to me it looks like this is the new default layout for the website, it says "a new kind of profile" in the title and the site title is "introducing new profile." Maybe I'm wrong...
I take that back. I think you're right that they're changing the profile. After watching the video, it wasn't clear, but scrolling down the page, you see:
"Fill this wide, open space with a unique image that represents you best. It's the first thing people see when they visit your timeline."
Assuming that when people click on your name, they go to your timeline, then this appears to replace what we think of as the profile.
