It does look like an enhanced stack. It has enough feature overlap with a grid stack and with the Applications folder itself that I don't really find it to be a very big deal. It might as well have itself been a new stack mode or an update of the grid mode.
Anyone remember the Launcher? Remember
At Ease? Yeah, those were about the coolest things when I was a kid (well, the Launcher, anyway - At Ease was very quickly discarded as not useful enough).
Maybe such a thing has its place in a system for everyone. Then again, Apple has made its comeback following a philosophy favoring relative elegance through reduction, as opposed to offering broad spanning options for different peoples' preferences through inclusion. Putting this in as a fourth or fifth interface by which to launch programs seems atypical.
I prefer using the keyboard, but oddly dislike Spotlight, so I use a combination of the Dock (when I'm mousing) and
⌘-Tab to Finder > ⌘⇧A > type the first few letters of the app I want > ⌘⌥↓, all in less time that it would take to click on an icon in the Dock and then find and click an icon in a grid.
I'd like to close with this:
not Apple's web site said:
Applications. A home for your apps.
The Applications folder gives you instant access to your apps Finder style. Just double-click the Applications icon in your Macintosh HD, or press ⌘⇧A. A new window will appear exactly where you left it, containing all the apps on your Mac. It takes just a scroll to view all your apps, and you can arrange apps any way you like by dragging an app icon to a new location or by grouping apps in folders. Installed a new app? Your new app automatically appears in the Applications folder, ready to blast off.