Welcome to the future. No flying cars, mind; just some sweet digs for your computer/smartphone.
Canonical, the dudes who brought us Ubuntu (and many of its derivatives), have shoehorned a fully functioning Ubuntu distro onto an Android device. Big deal, right? We've seen this countless times before. Heck, even my Dell Streak 7 has an Ubuntu install floating around out there.
You shut your mouth. It is a big deal.
What Canonical has done here (and will show off at the upcoming MWC) is more than a simple port of a popular Linux flavour onto a handheld device; they've successfully married the smartphone and the desktop computer. Ubuntu doesn't dual boot, here, but it actually runs alongside Android when you dock your device (ala Motorola's Webtop, but this actually works well). Carry your device and it's Android; dock it and it's Ubuntu. Awesomely, when you're in Ubuntu mode you can still run Android apps and receive Android notifications. You run off of your Android's hardware, and can do anything it can do (texts, phone calls, Angry Birds, etc.). If you dock it to an HDTV, it'll automatically use Ubuntu's TV interface (doesn't look like Mythbuntu, but it still looks pretty cool).
What are you waiting for? Check out the video!