Competition for Bitlocker? Yes please. I don't use filesystem encryption myself at this time, but it's important that this stuff be usable by non-geeks. Implementing it in the filesystem layer should help with that.
This will be an extremely useful complement to dm-crypt/LUKS FDE. FDE provides no protection when the partition is opened and mounted. This will permit finer grained access control, and will presumably be less hassle than GnuPG or TrueCrypt etc. It might, for example, have saved DPR But I wonder how secure it is against cache snooping etc.