Do you consider that the machine learning field already have too much journals?? Some days ago, it was launched the Evolutionary Intelligence journal by the same publisher!! At the same website!!!! Dealing with the same subjects!!!!!!!! :) :) :)
Sure, it may be useful for the newbie researchers, since mainstream journals from IEEE, ACM, and MIT, hold a more selective way to allow papers being published by them.
I hope it may be a very nice place to exchange ideas and that helps to push the AI field ahead, and not just "Yet Another Machine Learning Journal". :)