Earlier quoted context omitted.
I'm excited because it is SO MUCH more powerful than git's commit history rewriting, because "I re-wrote history" becomes part of your (distributed) repository's history.
Could you explain this difference to a git user?
Since it's really a commit that changes what history looks like, it's safe to push to other users.
More details here: http://mercurial.selenic.com/wiki/ChangesetEvolution