I don't think this new result is supposed to be a speedup. It might even be slower than the existing method. Rather, it's a way to get rid of the random number generator that the old algorithm relied on, so it's deterministic unlike the old way. I'm not even sure that it's guaranteed to find the answer, as opposed to finding it with high probability.
It's mostly of theoretical interest except for some possible niche applications, I'd say. For a math trade type of problem, you'd just go ahead and use the old algorithm with an RNG.
Another famous result of this type was AKS primality testing. Randomized algorithms like Miller-Rabin were known for a long time, very reliable, and quite simple to implement, but AKS was an important theoretical advance because it didn't use random inputs. I think everyone still uses Miller-Rabin in practice.