Yes Mr. Scott, it let's you basically run any app you want on your G1(almost) using debian linux.
Remember, that installing and running Debian on your G1 is for advanced users. Even I am having a hard time installing it, and I am a systems admin... lol
Look at it this way, if you are just a regular phone user that likes to play games and fool around with fart machines rooting and debian are not for you...
If you are like me and administrate multiple linux servers in a datacenter, you need a good ssh client installed....