Yes, indeed, I think king is dead (PowerPC), welcome king! (ARM). Basically speaking this means Freescale would like to off-load core development to some other party. So far they designed their own PPC cores, while were using ARM-designed cores. Looks like designing own nice OoO core is not that easy task ($$$). I think this all is like a snow-ball, look at AMCC and LSI doing the same, i.e. leaving PPC business and going into ARM business.
On one side I'm sad as I quite like PPC architecture, on the other side looks like PPC already lost the race on perf/watt metrics (compare QorL with ARM's A9/A15). Anyway, I keep my finger crossed for ARM in a battle with x86 arch :-)