It would genuinely make it possible for more roleplay like games so that for example, we could have a police radio channel on the side, plus the proximity chat game channel so that we could make genuine roleplay games in Fortnite along with the upcoming Custom Items and First Person Camera.
So stuff like creating custom voice chat channels, being able to be in two channels at the same time or being able to switch between voice channels quickly with custom keybinds instead of pausing the game, etc.
It would make the voice chat experience a heck of a lot better than it is now, and would genuinely be a game changer in some games.