What is "Playables API"?

I read the Unity Roadmap and “Playables API” is on track for release (experimental) for 5.2.

What is it? Something about animation? Does it have more general uses?
It sounds handy but also vague. No mention of it at all anywhere else.

The description reads:
This new C# API aims to provide a way for users to create tools, effects or other gameplay mechanism by organizing and evaluating things in a tree-like structure.

In its current form, the Playable API supports creating Animation blending graphs at runtime, providing the capacity to have full control over the AnimationClips played by the engine

[Link Removed] Unity - Manual: Playables API

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They are introduced in 5.2 but I’ll wait until they become stable,before used them in production or maybe make 2 versions as found out runtime controllers kind of cute.

Documentation for the feature can be found here:

This is an internal (outdated) document. Official version is here: http://docs.unity3d.com/Manual/Playables.html