I admit this will come in handy -- I have a few projects that I want to keep private for the moment, but which I haven't put on Git because I've hit my limit (and didn't feel like upgrading my account any further).
But I suspect this is aimed more at organizations than individuals. Businesses that run their own in-house git server might be tempted to switch over. I just wonder what "unlimited" will truly be when the floodgates open.