This will significantly accelerate the growth of a robust creator ecosystem for Augmented Reality and allow brands to actively participate in the growth of the medium, which is critical at this stage. Given that several are on the verge of a significant AR hardware breakthrough, within 24-36 months Augmented Reality will hopefully get its next "killer app". The first of course was Snapchat.
More here: https://www.engadget.com/2018/06/04/apple-pixar-adobe-standardized-ar-file-format/