As others have said, even if all this is capable of doing is homebrew that alone would open up the 'scene' at large. After all the dreamcast needs some sort of storage drive, and this would fit the bill.
So, what kind of transfer speed are we looking for on data, and what would reasonably be possible within that speed? I'm asking because of things like emulators, apps, and the like. What would be possible here in terms of homebrew that takes advantage of this?