It is indeed point and confirm for first time; and next time it will auto confirm. No need to select and address, it will be created on the spot.
I see the privacy gains of not using an existing bitcoin address for authentication.
Will the private keys of this address also be backed up along with the wallet addresses? If not, then some recovery mechanisms will be necessary app-side. I guess that's necessary anyway.
As long as primary UX is point-and-logged-in (no more steps than enabling camera and pointing it at screen), I'm happy. Once this UX is good enough, what are the prospects of getting into the mainline Android client?
Cheers,
Rick