It's innovative because this combination which is unique to Marcus Hutter's Ph.D. thesis basically "solves" the problem of general AI.. if given infinite computation resources. It's provable mathmatically to the be the best possible artificial general intelligence, with constant-time operation.. it's just that constant happens to be larger than the known universe.
That sounds useless, but it's not. What is shows is that artificial (general) intelligence is really an optimization problem, and provides a (theoretical) benchmark comparison, and directs current research into more practical algorithms which approximate that ideal within realistic space and time constraints.