Absolutely honest question: what is the advantage of this over a top view navigation with the orientation following the orientation of movement? Am I missing something?
You can calibrate navigation to visual landmarks, i.e. you can see the turn coming up and match it to what you see out your window. But you also still get an overhead "what lies ahead" map for planning your route further out. This is an interesting concept, maybe a hybrid approach would be useful, a simple overhead streets map as default that swaps to the 3rd person view when you approach your turn.
If you've ever been confused about which turn is which with top down navigation, then this is for you. While driving a car, being able to at a glance know exactly what turn is what would have saved me countless wrong turns, my parents probably doubly so.
One classic: there's a fork in the road on the way to my parents. One side is "straight", the other side is an exit. I took the wrong, exit side of that several times while my app said to go straight before I just knew the route and didn't need GPS at all. Top-down isn't as good in these cases because of densely packed roads and back to back exits.
That said, it's "good enough" and I doubt this takes off.