While it's months out at the very least - more likely, years - I'm excited for this. Being able to manipulate the style & functionality of the native selectbox is long, long overdue. A big reason why we need third-party components in our design systems is because the browser's native UI elements haven't changed much since the 90's.

I don't expect this to fully replace the need for those components, particularly where the options need to be fetched from the server, but I could easily see those components being able to extend this element, rather than reinventing it as dropdown components tend to do today.