[keeeeeeeeen]

Not quite. What the project accomplishes is the ability to embed a fully functional and interactive web browser into another application (e.g. a game), with complete control over the pixels. Accomplishing the same functionality with a WebView, while theoretically possible, would be slow, clunky, and suffer from crashes (should the browser crash), as the rendering engine is running in the same process. It's my understanding that this will be rendered nearly obsolete with widespread Webkit2 adoption, but for now, it does provide a significant benefit (in terms of stability and usability) over a Cocoa WebView.