I guess an oversimplified description would be that this is like a Jupyter Notebook specifically for JavaScript. Libraries like D3 are pre-loaded and immediately accessible. Am definitely interested in hearing the details about what it is built with and medium to long-term plans for the service.
Note that the Jupyter Notebook service generally requires you to be installing and running Python etc. on your own computer. Jumping into an Observable notebook is as easy as opening your browser and signing in via GIthub