You can already do this with any normal email account. Just do [email protected]. You can put anything you want behind the +, and it still works. i.e. [email protected], [email protected], [email protected].
This used to be used as some sort of automatic labeling system that was supposed to be part of the spec eons ago, but it works just fine for generating unique emails so that you can see if/when an email has been leaked.
I assume spammers have become adept at stripping anything between + and @ in email addresses, so this isn't as reliable as properly masked addresses.
I think the benefit is supposed to be the locking feature. Any human that sees [email protected] and wants to circumvent your filters to get to your main inbox (typically for sales purposes) can figure out to email [email protected]. With this product, the email is undeliverable unless they label their emails correctly.