Yeah I'm looking forward to seeing what people do.
But also (just like Forman pointed out), it effectively means that we can now meme comment with a wider variety of images (not just popular templates).
Just click "Add Image," select "Inside Current Image" and then once you've inserted the image you want, drag it until it fills the meme (just make sure the sizes of the images are roughly the same). And it will generate it as a meme comment instead of bumping it to My Images.