Essentially it's a proprietary named cartridge that is nothing more than a 6.5mm PPC, but it should be quite a performer. I have always been a fan of the PPC line of cartridges, they do pretty well with bullets in the 85-100grn weight range for 6-6.5mm diameters. It's a seriously aerodynamic bullet that can be pushed to pretty respectable velocities yet not burn the crap out of a throat like one could expect a 243Winchester to do.
By the way, their .221 Grendel is said to be a 5.45x39mm only with a proprietary name slapped on it.
If both take off, let's hope that US companies begin offering factory loadable brass to make these things more viable. Then let's all cross our fingers that the AW ban dies so that companies can start making QUALITY high cap mags for us rather than having to try to tune the old USA mags designed for 7.62x39mm cartridges. The taper of the parent 7.62x39mm casings for these cartridges rules out using 5.56x45mm 30 round mags, after 3 maybe 4 cartridges they won't stack correctly or feed.