This looks like it’s another infinite-res procedural shading system that we don’t really need.
Weren’t we aiming for something that could compete with Substance? Weren’t we going to have a finite-resolution texture compositor that can do the critical gather and scatter ops like blurring efficiently? Weren’t we going to just have a texture compositor that outputs plain old images that can be used in Cycles, Eevee, or any other renderer on the planet?
Or is this a separate thing from that that just aims to unify the texture shading stuff between Cycles and Eevee?
This is about unifying existing functionality. 2D finite resolution textures do not work for cases like modifiers, sculpting, particles Then there is no UV mapping, or not even a surface to map a 2D image on.
There was no concrete plan announced for a finite resolution texture compositor system. If/when that gets worked on, it would be bigger than a summer of code project.