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I suspect it'll warn you if any of the accounts you've saved in Firefox (username/password) have been compromised. 1Password already does this¹ but this is likely the Firefox implementation of it.

¹ - https://blog.agilebits.com/2018/02/22/finding-pwned-password...

The blog article on HIBP goes a bit into more technical detail:

"We're Baking Have I Been Pwned into Firefox and 1Password"

https://www.troyhunt.com/were-baking-have-i-been-pwned-into-...

The main thing added here is a brand and some advertising, but that's not insignificant. Haveibeenpwned is a good service but it looks a whole lot like http://ismycreditcardstolen.com/ on first glance. If the Mozilla brand gets it to more people, that's a win.

In this case, convenience is huge.

This also has anonymized email lookup (using the same model as passwords) that is new.