It still feels kind of like a lot of words that don't mean all that much. I mean, it's good, obviously, but ... eh. I can't imagine very many people getting excited over it.
It really, really just sounds like a new method to pry some of the control away from Steam but I don't think it's going to have all that much effect. I get the impression that this is more of an Xbox thing than a PC thing, with most PC gamers being relatively unmoved by it.
Personally, screw "deep integration". I want my services to be separate.