You should be excited because there's so many low-hanging classification problems (e.g. "Is this email spam?", "Is this yelp review happy or sad or neutral?") that a "cheap" LLM is overkill for. It really should be this cheap, and now Jev is the first to do it well and do it at scale.
If I was explaining it to my mom, I'd say "Classifying 1000 yelp reviews used to cost $50. Now it costs 5¢, at similar accuracy"