I've been wishing for something like this for years. Especially for early-career engineers or people from non-traditional backgrounds, this is insanely valuable because it helps you to know avoid wasting time on applications that will never go anywhere; avoid typing in your resume, line by line, into another form after already submitting your pdf. Avoid writing a cover letter to a job that's already been filled. Avoid applying to a posting that's really just out there for a company to "gauge" interest, not for filling a real role.
If an application is rejected, fine. But getting a follow-up request 7 months after submitting a resume into a black hole is ridiculous, and I think any system that decreases the information asymmetry between the applicant and the employer that allows people to intelligently approach their career search is going to be tapping into something truly valuable.