The current site doesn't look very inspiring. Like you say, just another "AI generated art based social media platform". But if his plans are to develop it into some sort of After Effects competitor then ... maybe that's a market opportunity worth cracking?
PMF? What's that?
...but that particular industry is moving so fast it's already homogenized (with the best and cheapest tools being made by the core AI developers themselves), so without extreme differentiation a new player can't compete.
The beta app in the Twitter thread has less features than current open-source AI Image tooling.
The social aspect was just added as an extra feature
It's more like a Photoshop + canva type project