I just watched the video when I got home, now have it downloaded and running as we speak.
I'll admit, the skeptic in me immediately questioned the "free" aspect of the app and no doubt time will tell what the true cost will be but for now I say fill your boots.
On first use (for my needs) it's basically a slightly updated version of Affinity Photo 2, in that, it's a true photoshop alternative but without the AI features - which is absolutely fine for a hobbyist like me who really just needs the ability to mask layers and remove distracting items from an image.
I clearly have no desire to sign up to a Canva plan in order to gain access to more advanced features (including AI tools) so as long as the features that are currently free remain free I'll be happy enough.