It's hard to see unless you look closely, but this is the beginning of biological nanotechnology. These are some of the very first deliberately designed biological molecules to make it into a non-pharmaceutical market. Technologically, the silks in these fabrics are made of designed components an order of magnitude smaller than Intel's best transistors. And (under biological conditions) are significantly more functionally versatile.
From a proteonomics perspective it seems interesting, but spider silk is several different proteins polymerized into amorphous semi-elastic regions, so I'm skeptical about their 'spinning' process.
Processes using yeast to produce simple proteins (like hypoallergenic insulin) have been around since the 1980s, so I'm curious about how (or if) they solved the protein folding problem and stats on how their silk compares to natural silk.
This is awesome tech and the obvious future. So I don't think it is hard to see at all...
The germane question here is "does this have nutritional value"?; the answer is almost certainly "no".
I'm curious to know what the tensile strength and Young's modulus is for the thread. I get annoyed that the "stronger than steel" moniker when it discusses one aspect of strength and generally related to weight but not volume. Its much less impressive to have a .050 fiber that is "stronger than steel" when the equivalent steel fiber would be .0005.
Interesting questions like "How does it compare to Kevlar(tm)?" are we going to see sails made out of it? What is the durability in the presence of ultraviolet light (aka sunlight)? Is this just a Velben fiber, suitable only for showing off just how much you can spend on a jacket?
I'm not sure on the weight of the resulting fabric, but if its in the realm of existing nylon shells and offers greater durability, its a massive win.
If its as heavy as Canvas, then its just novel.