Feels like a multiplayer lobby essentially. An easy way to see what servers are available on the internet.
But as the guy in the video is saying, it's possible this is the way mojang wants to rent out servers. They sure would have a leg up compared to the competition by having direct support for it in the game. I think it would be a very smart way of adding a "subscription" fee to their game without pissing people off (well apart from existing server providers
It would also be interesting if you could have like a HUGE minecraft server making it more like an MMO sort of thing. But I think that's unlikely.
Edit: Come to think of it, another smart thing they could do to make money, without even having to provide servers would be to require a small fee for listing your server in the game, say 1 dollar/month for example, easily baked into current server deals.