I think they are just trying to make it easy to make a story-like webpage (as you mentioned nat geo or NYT do this at times). However someone with no web experience who just wants to tell a story can't make a complicated site like that.
So, it seems like this is just a tool to assist with that.
Which is interesting.. however their landing page sure doesn't make it at all clear as to what is going on.
The key part is that it’s hosted by google, and can appear on other google surfaces. So pretty soon google will just show this at the top of the search results, instead of directing you to the website.
At least they’re generous enough to give you some ad revenue from it, unlike featured snippets.
So, it seems like this is just a tool to assist with that.
Which is interesting.. however their landing page sure doesn't make it at all clear as to what is going on.