If it's just about draw call throughput then while it might be a good industry forcing function, it's not doing anything that you couldn't do with a GL extension or some improvements to DX (or WDDM). If the intention is for it to provide something compelling long-term it really needs to do something that wouldn't be portable to other architectures at all. I'm actually hoping for the latter personally, as that's a lot more fun for developers like me
I also don't really care if we have really fast or really big draw calls or both in the long run as long as I have the flexibility to pull increasingly dynamic state on the GPU.
So if I see anything resembling binding slots in Mantle given what we know of the GCN hardware from the ISA docs, I'm going to facepalm