I have to say, my reaction is two-fold.
As a comment system, I'm going to miss Disqus. It was perfect, and I use my Disqus account across the web. When there's an article I want to converse about, I want there to be as few steps as possible. I don't want to go to another page or sign up for something new. I can't see myself participating much in a conversation that takes place somewhere away from the article and as a reader, I'm not really pleased with this move.
On the upside, this is a very slick forum system and I wouldn't have known about it without discovering it here. It sounds like the developer has some great aims and I'll be following it's development from now on.
Summary: The bad: I'm not going to leave a boing boing story to comment here, I want to stay on the Boing Boing front page.
The good: As a forum system, this is nifty.