Seems like it will allow manned aircraft to have access to massive magazines if they have UAVs carrying ordnance that can keep up with a strike package. I'd think that GPS or laser guided bombs and "Lock-on After Launch" missiles could be deployed from a UAV but guided to their targets by the manned fighter they are accompanying to avoid the expense of putting radar/sensors in every UAV.
It sounds like some signature reduction efforts went into the XQ-222, which will be important if it is to accompany 5th gen fighters. I'm a bit surprised the XQ-222 isn't designed to deploy at least a single 2000 lb class weapon however. If it could, it would shore up one of the biggest weaknesses of the F-22s and F-35Bs when it comes to kicking in doors.
The launch and recovery method is interesting, I wonder if it is capable of using runways at all or if they just cut out the landing gear entirely? During normal operations, I assume the ability to operate out of an established airfield would be desirable.