No ARC/L2ARC? Edit: of course not. This is actually just it’s just a ZFS user-facing ”front-end”, not a ZFS implementation .
It's capable of doing IO against a real ZFS array without any other code. ARC is an implementation detail and not necessary for correctness. If you removed ARC from ZoL it would still work, just slower. ARC is far from the most interesting milestone for a reimplementation effort because an ARC implementation doesn't need to be anything like the Sun version internally, as long as it offers similar performance.
This project is cool not because you're going to run the Python in your kernel today, but because someone can use it as a documented reference implementation of all of the data structures and transactions that is not covered by the CDDL, so another implementation based on this can live in the Linux kernel without problem.