I think this tool is a great idea, I could write CPP but there are cases when I need the rapid iteration of BP to refine expressions and this could make converting those into CPP faster than me doing it by hand. Obviously the code has said not to be too readable but I would probably only ever use it for smaller chunks to build up function libraries, new nodes for me to use that bypass BPs weaknesses.
One of the biggest thing BP has going for it is it isnt human readable it has a layer there for display so you could output it in any other visual way (including text), Im surprised someone hasnt made a node->text graph tab yet but this is certainly a step in that direction. Im really hopeful about the future of BP because of the support it gets with projects like this, I cant wait to see as it evolves and gets faster with larger libraries of nodes to use and less barriers between the sub-editors 