I view Ethernet over HDMI as I do CEC. CEC could be useful for people who want less remotes, but don't want to invest in a universal. Ethernet over HDMI could be useful for people who want their equipment networked together, but don't want to invest in a hub/switch, and cabling.
Does CEC work? Sort of. It's better with newer equipment, from the same maker. But a universal remote is better.
Will Ethernet of HDMI work? I'm guessing it'll be the same boat. I don't think it's inside the HDCP encryption, so at least you won't lose your connection even time you change channels. But a switch is a lot more flexable because it's a true star topology, rather than the point-to-point of HDMI (although if the receiver is able to function as the hub, for both upstream and downstream (sources and displays) then it'll mimic the star pretty well.
