I think an impartial approach should be taken here, as in most things and dismissing this out of hand is unhelpful.
Firstly, the tech. The tech is good, excellent really. This is a singularly impressive round that does things that other rounds don't. It's been developed and designed by very smart folks with a lot of real world experience and crucially a good understanding of military demands, how military contracts work, and how to win them. This is not 'just' a reinvention of 6.8-08. It is a better solution. At least in terms of meeting the demands of weight / durability / reliability / shootability / terminal effect. I trust the experience of those involved in such development and procurement enough to believe that at least.
However, this move should also be taken with a pinch of salt. This is a small contract, for a small volume of weapons. This is, in effect, what my company would describe as a 'test and learn' launch. Just enough product into a single market (specific units, special forces, etc) to assess performance and reception, but not an all in, balls to the wall full scale roll out.
How the system performs over the next couple of years will determine proof of concept and ultimately widespread adoption. Maybe it's markedly better and all GIs will have them. Maybe it over promises and under delivers and none will. We'll see.
I'd say that based on past US small scale adoption of small arms, the odds are against it, but then, you still gotta test to find out, and I think dismissing it out of hand is counter intuitive and nor is it simply 'wanker bureaucrats'. Many, many systems are adopted at this scale all the time, yet derivatives of the boring old M16 pattern have endured.
There's also a lot of head winds that anything new has to overcome with pure performance to become 'the standard'. After all, there's a lot of stuff out there right now that serves the need of a light weight, longer range, better terminal effect .223 replacement. None are adopted. Why? Logistics, cost and inertia.
It doesn't matter if a round is 5% better in the field if it costs twice as much to produce at scale. It doesn't matter if it's 5% more effective if it takes longer to produce, or can't be reliably sourced in the required volumes, or is harder to standardize, or if none of America's NATO allies will come on board. Just look at all the ex-eastern bloc nations who've spent billions and years of time to switch out their 7.62x39 or 5.45x39mm arsenals for 5.56x45. Poland, CZ, Romania, East Germany. They've done that not because .223 is really any better a round than 5.45x39 (IMHO), but because alignment on ammunition is very, very important in a war zone in terms of resupply and having the same stuff as your NATO allies is important.
For this to win as the 'one and only' US service weapon, not only does the weapon and cartridge itself have to be better, but an entire logistical supply chain has to be built around it, at scale, worldwide. At a cost which is competitive with pre-existing infrastructure. That's one hell of a hurdle to overcome (and monetarily far outweighs the weapons contract itself). Not impossible if the round is genuinely better (5.56 did it afterall), but a significant challenge nonetheless.
Right now, this is innovative. It seems a good fit for operational requirements. Only time will tell if it's better by enough to be viable.
At least that's my take, again as a relatively impartial observer with no real world military experience but a strong interest in weapons development and history.
TL;DR. Is this good? We've no idea. Ask again in 10 years...