There is no implementation of it but this is how i see it, at least comparing with how things with fully extensioned vulkan work, which uses a few similar mechanics.

Per-drawcall cost goes to nanosecond scale. Assuming you do drawcalls of course, this makes bindless and indirect rendering a bit easier so you could drop CPU cost to near-0 in a renderer.

It would also highly mitigate shader compiler hitches due to having a split pipeline instead of a monolythic one.

The simplification on barriers could improve performance a significant amount because currently, most engines that deal with Vulkan and DX12 need to keep track of individual texture layouts and transitions, and this completely removes such a thing.