- Has nothing to do with elliptic curves.
- Has virtually zero repercussions in any real-world cryptosystem.
- Is a mostly theoretical refinement of the 'cryptopocalypse' Joux algorithm, which only affects some special kinds of fields (namely small characteristic).
- Is only being reported again now because the paper has just been presented at Eurocrypt.
Here are some previous threads on the subject: https://news.ycombinator.com/item?id=6240434