The most important component in the time bound is of the form 2^{n / polylog(n)}, which is subexponential. But if you have reduction from another problem that increases instance size quadratically, the algorithm for the other problem is no longer subexponential. Which means we are still essentially in the same neighborhood as before.
It's a huge result if true, and probably the first major AI result that affects the papers I read. But since the boundary in the hypothesis was kind of arbitrary, breaching it should not significantly change our intuition on complexity classes.
Anyways, most of the times, SAT can be solved quickly, but not always, so getting the answer from Astra in polynomial time doesn't prove much unless you can also prove that it always does, no matter the input.
My thesis was around showing implications of few different hardness conjectures. So grounded was ETH that I introduced it in a side note as Conjecture 0 after Conjectures 1 and 2. I don't think it's easy to express how substantial of a Bayesian update this is all around.