Why is this important? Have a program that does a lot of integer multiplications? Let's program all of these programmable execution units to multiply integers on the fly, etc. Now your integer multiply throughput is higher, as per the current program's needs.
Have lots of weird old x86 instructions you are forced to support but no one actually uses? Don't waste transistors on them just program an execution unit to execute that instruction on the fly, etc.
I think it's great, and that most people are missing the point.