I think its not a very new idea there are other such solutions already in the market like FILE COIN that are harnessing the power of IPFS. But its a good edition in the market that we have more such platforms that will increase the competition. Lets see how far this concept goes from here.
You are mixing it up. IPFS is a different thing and CATA is totally different thing. The concept behind CATA is to build a storage system for NFTs specially that is decentralized in nature and this is something not available till date. Moreover, CATA is targeting Flow blockchain.