The power of LinkedIn, if you ask me, is in its demographic -- Facebook is where I share with my family and friends, and LinkedIn seems to be where I have connected with coworkers and colleagues. And they hint at that a little bit in this release: there's a feature where you can share contacts across Bluetooth, which seems like a good idea for the upcoming convention season (sounds like the same kind of functionality as Bump). But most of this stuff is just more "me, too." Instead of sharing photos and status updates with my work acquaintances, how about some more functionality exclusive to just them?
Of course, even more than demographics, the thing that matters most about social networks is how many contacts you actually have on them. If you're a big LinkedIn fan and have a huge network in there, you'll definitely want to get this update right away.