Actually, this was a major point of API failure when I last tried to use it. Did you know that, with the current API, there's no way to retrieve the replies to a tweet? This makes it impossible to build tools that, say, allow you to visualize a tweet thread, because you simply can't fetch the thread.
So I'll say that, as a casual, social, and informational user of Twitter (i.e. not business, not adtech, not academia), this announcement gives me a little hope that we might see a resurgence in 3rd party apps that provide more powerful ways of interfacing with Twitter. At least, that's my hope, maybe I'm naive that they'd really allow this.