For communicating data between programs, would you create a filesystem object that points to memory inside your program, or what?
Probably what they're referring to is something more along the lines of replacing SCSI or NFS with a protocol that is a better match for the random access patterns used to access in-memory structures. (Hence their 64-byte I/O size; that is equal to a cache line on Intel architectures.)
IPC (Inter-Process Communication) is a known technology. This won't change it much if at all.
Linux already does this. Program code is cached copy-on-write in shared memory. The fact that, say, bash has to be loaded from disk once is pretty much irrelevant. After that, the kernel's just managing pointers.
The logical structure of a filesystem is still a useful abstraction (and has been decoupled from physical constraints for a long time now).
Not so. Take a look at the Linux kernel implementation of memory-mapped ramdisk files. There is no "filesystem overhead". Zero. The kernel pretty much sets up the page mapping and then is hands-off.
Even if your memory mapping is backed by a file on a block device, the only overhead is occasional paging to disk. This happens on the order of SECONDS… not "constantly"!