This is great and all, but I don’t think people will get what they want out of this–namely cheaper fees or the same level of security, since the App Store review process is funded by those, and without that, all you’re going to get are scammy apps, regardless of what you believe the added value of it is.
What I would really like to see is a way for me to install and run my own apps without paying for a developer account and/or having to re-sign them every few days, and I can’t see that clearly spelled out yet.
I know Apple doesn’t really get this, but the inability to develop private applications for the hardware you own without jumping through arbitrary hoops is what keeps people like me from actively developing for the platform (and it is also why I keep dabbling with Android devices).