My understanding is that Oracle ZFS, which can not be integrated in mainline Linux, can still be distributed as a separate project (zfsonlinux.org).
On the other hand, Linux kernel developers have started btrfs, which is inspired by, but incompatible with, ZFS.
So, what is this project? I can only imagine that this is either a white room reimplementation of ZFS, or a fork before the license changed (but I think it was CDDL from the start).
A more interesting question would be: who should use or develop this? IMHO this will never be on par with "the" ZFS, so btrfs is where everyone's energy should go.
(Also, by reimplementing a ZFS product you're supporting them in a way.)