I'm excited to see what they do, but I hate when my ISP gets further in bed with internet-delivered content.
Since I use FiOS, I assume Verizon will shortly be implementing data caps (unless you're using this service of course). I expect data caps to be announced in about 1-2 months: far enough away from this announcement and far enough away from the rollout so they can try to claim they aren't doing it to stifle competition.
While I welcome competition I doubt it will not be a direct threat to Netflix. I suspect the content will be only available on a PC or mobile device, the cable companies and movie studios won't allow it on a TV(like HBO go). It will probably be free for those who signup for FIOS or a wireless data plan(again like HBO go). If they will have a buffet style service and have apps to stream to my TV then it will be a threat.
Until an app is embedded in a majority of devices / most certainly TV's and Disk Players .. there will be no threat to NF ..
Roku will probably add it quickly, as they're all about the net apps.
It wouldn't be a big deal if the players, etc., could gain the apps through firmware in a timely manner. Nothing more infuriating than buying something and finding a new app comes out a little later that you don't have.
Don't believe everything on the Interwebz! A duck's quack DOES echo!