So it generates a fully rigged 3D model that can be animated by conventional means?

If it can do all that, and you add in motion capture from just a video, and that will drastically cut the costs for all kinds of animation projects.

Given that it is possible to render photo-realistic people now from 3D models (subsurface scattering for the skin, etc.), we are well on the way to a full video production pipeline. Just give it some scans of the people and objects you want, type in a description of the scenes, generate the voices via text to speech, and press "render".

The next few years are going to be crazy.