In audio production, the relevance of 32 bit audio is that it's using the same 32 bit
float representation of the audio that most of the signal processing stages are also using. In contrast, when people talk about 16 or 24 bit audio, they are customarily referring to an
integer representation.
In principle, every time you convert from the 32 bit float back to 24 bit integer, there's an opportunity for a careless human to screw up the scaling, and throw away some of the available integer range. Rinse and repeat until you have an audible problem.
So this forms the basis for an argument in favour of keeping the audio in a float representation for as much of the production process as can reasonably be achieved.
I don't see any benefit in 32 bit representation for delivery of the finished content, but I suppose that if, as part of the production process, you're transferring the audio online between different sites/people/whatever, then having lossless compression that works without having to convert back to integer might be useful.
EDIT: Just read the thing more carefully, and realised that it's specifically talking about 32 bit int, NOT float. So right now, I can't see much practical use for this.