In some ways it just encourages a different style of development. There is more emphasis on forking processes and communicating between them, which some may consider to be a better practice anyway. It all depends on your domain. On the other hand, there's nothing stopping you from binding to pthreads and seeing how far you get with that (and from a quick search it appears that people have had some success with it, especially if you're calling into a lot of C libraries).
So you're throwing away most of the computing power of a modern CPU. But other than that it's totally awesome I'm sure, after all who needs computing power.
Sounds more like a toy to me.