This is dynamic adjustment of the games settings in real time while playing in order to maintain a smooth frame rate. So quite different to GF Experience. In fact this seems a step up over what we've seen historically in consoles with dynamic resolution switching. This is dynamic EVERYTHING switching! Pretty awesome IMO.
For example, you can run the game with everything maxed out at 60fps minus Tessellation with brings down performance in some areas. With this, you can just adjust it to dynamic (leaving everything else non dynamic and maxed) and you'll get the effect when you have the performance to spare and not when you don't.