Recently I was sent a link to a post in BoLS here, which is an interesting read. You can have a look at the website here too.
I think too that the published goal is a nice ideal, in that "Community Comp provides appropriate motivation to players for them to lower the power level of armies generally to a level about where we were at the end of 5th edition. With a stable, moderately powered meta game, even the worst units in the 40k universe become viable units to play with. With all units being viable, we get an opportunity to satisfy our creative urges without feeling like we will never get to play with those units. In addition newer players are more likely to enjoy their games in the competitive arena and come back for more next time."
I'd probably use 'moderate the power level' rather than 'lower' it, but meh.
One of the things that I think a system like this encourages is the return of more narrative or 'themed' armies (and no Tim, 'A-liquorice-allsorts-all-the-best-units-in-my-codex-with-my-allies-best-units-as-well-as-Forgeworld" is not a theme... I admire your passion though).
You will get to see all (ok, not all, but certainly more) of those cool but less effective units appear, and it will challenge meta list builders - yes, there will be some that, for them, squeezing the last drop of effective juice out of a points framework will be the reward unto itself.
It will also teach players different tactics. How to use those less optimal units more effectively can unlock the uber combo of tomorrow, yes?
Best of all, we all know that 40k is nothing if not great for forging the narrative, after all that's what its purpose is. At least that is what they tell us, and why we keep playing the game.