What makes this better than Little Snitch?
They both solve similar problems, but from different points of view. I'm personally not a big fan of programs that constantly pop up alert windows.
I'm just attracted to the smaller memory footprint I guess and the simple UI. :D
Currently, it doesn't block non-app-bundle processes. The main reason for the app's existence is to block nosy apps that discreetly contact their home servers. I can't think of many (or any) terminal apps that do the same thing.
Also, as I've lately been an embedded software guy, I saw no harm or fear in a little kernel code.