"It's just Custom Instructions with a nice UI" is also true.
However, never underestimate the world-upending impact of "a nice UI". GPT-3 was available for years. But almost nobody knew or cared* (despite me telling them about it forty times! LOL) until they made a nice UI for it!
This looks like another "tiny tweak" of usability that has a similar "quantum leap" level of impact.
--
* On an unrelated note: people often ask me my opinion about GPT / AI. I ask them if they've used it. "No". "You know it's free right?" "Yes". WTF? This mindset is bizarre to me! What is it? Fear of the unknown? Laziness? Demanding social proof before trying something?