Greg's original post on the topic said " the enterprise distros are off doing their thing with their multi-year upgrade cycles, there's no real need from the distros for a new longterm kernel release."
This, on the other hand, is aimed squarly at the CE "consumer electronics" area - see: http://www.linuxfoundation.org/collaborate/workgroups/consum....
To me the interesting thing is the juxtaposition of "Long Term Stable" with "expected to be stable in quality for the typical life-time of a product, i.e., 2-3 years."