Looks like an evolution for home. Maybe something to look forward to in ps4.
Although as a primarily single player gamer and owner of a crappy net connection, I am just waiting how it pans out.
Home is a profitable ps3 feature, it makes sense to evolve it into something bigger, maybe vita integration sometime in the future will hook me on.
Btw, its probably made by the london studio, same guys behind singstar and ps home, so some proven talent there.