From my perspective this is more structuring of data. If you look at the profile in the example its a very clear organization step.Advertisers will now have a better and easy targeting mechanism than the usual demographics info.This I think is more of user training where people enter the data on how facebook wants to see it; why would a friend of mine who has known me long enough need information in this structure?

Facebook is now going to be able to sell super targeting techniques to marketers. Google relied on machines to do this, Facebook just asked its users to do the same;needless to say its a master stroke :).