I know, although I disagree that almost any site without its css stylesheet is really readable, but the original question was how is semantic HTML useful.
If usability is the only answer and it's doing precisely the opposite of what semantic HTML is supposed to achieve, namely separation of content and presentation, it appears to me that we've not really decided what semantic HTML is, it just sounds kinda cool and has a happy side effect of making it easier for screen readers to parse.
So many of these new tags seem too narrow, a victim of the old fashioned thinking of the w3c where everything, to them, is still a document.
Why use article instead of div? Will it really make mining easier or will you get loads of false positives? If my site creates hourly weather reports, are they articles? Why can't I define my own tag of weatherreport? Is there any point?
To quote ryan's original comment:
This isn't 'bringing the web forward' in any sense. I don't know what the answer is but it certainly isn't this.