This product is not going to undermine their J product, I think, because it is aimed at two people in long haul Y. If they were to buy 2xPE or 2xJ, it would cost more than this config. Also, look at the video that TS linked and you will see that a family with one small child would REALLY win out. I know just such a family who are travelling in March on a long haul (12 hours) and have decided to go for PE as there was no other choice. I would hazard a guess that NZ will not sell this combo to a single pax but keep them for couples and the family groups illustrated.
I think that NZ know what they are doing and know that their extra long haul routes need unusual treatment. Would I go for LH in an A380 or this config? Easy.