It doesn't look like a threat to me. Why do things on BTC when you can do the same thing for cheaper, faster, and less complexity on another chain with more features? https://utxos.org/uses/ show use cases that don't really provide any advantage over another chain.
It's still only a proposal so who knows when it will actually be merged. It's cool development tech wise.
He needs a new opcode for his system to work. It's far more likely that he can get this opcode on BCH than any other Bitcoin fork. If he actually wants this idea to ever exist then he is going to have to use BCH.