The task is that of generating output samples from pseudo-random quantum circuits. The paper shows that the task has exponential computational complexity on classical computers and that it can be used to demonstrate quantum supremacy using a quantum computer with approximately 50 qubits.
Now, the IEEE Spectrum article indicates that the team has now built a 49-qubit quantum computer and plan to use it to demonstrate quantum supremacy.
EDIT: Replaced direct pdf link with the article page link.
Performing such a trick demonstrates that you have a working device that can perform arbitrary quantum computations - unlike, say, the much hyped D-wave quantum annealing device.
But yes, it's basically "represent a quantum computer of this size", which we legitimately can't do classically beyond a certain size. It's not hugely useful but it's legitimate quantum supremacy, if it works.
https://twitter.com/quantum_graeme/status/849317195599556609
PBS Digital Studios is truly a treasure and really shows what's possible with eduxation when you truly take advantage of internet video.
One exception of many to this I recently found is when the gf and I were watching tv and she changed the station to the Science Channel. My excitement was destroyed by my exponentially higher dissapointment: The tv show she wanted to watch was Ghost Hunters...on the frickin science channel!!!!
I am grateful to have never knowingly met one of these people.