Thunderbolt is not driverless
I might agree more with your cynicism about it were it not running as a PCIe conduit. As it is, it's all familiar stuff for engineers to integrate with....
However, most Apple hardware and software engineers have never dealt with hot-plug PCIe before. And that's what Thunderbolt is - it extends the PCIe bus to PCIe devices in external boxes. If you plug in a Thunderbolt RAID array, on the array end of the cable is a PCIe RAID controller.
What would you expect to happen if you opened up a running Mac Pro, and inserted a PCIe eSATA card connected to running drives? Would you expect the drives to simply appear and be usable a second or two later?
What if you pull the eSATA card back out - especially if reads and writes are active on the drive?
The tools are familiar, but there's a lot of uncharted territory here.
There are lots of drivers involved, lots of them. There are no *new* drivers involved - but every external device needs an OS driver. Until now, only the Mac Pro had PCIe expansion, and a relatively few number of supported PCIe devices. Now every Thunderbolt equipped Mac has PCIe "slots", and has to deal with 3rd party drivers.
When you plug that Thunderbolt RAID array into the port, a new PCIe device - probably a SiliconImage controller - appears. The SiI driver has to be dynamically loaded. The drives have to be configured. Lots of work that's traditionally done early in the boot process.
And if you're familiar with device driver software, timing and latency issues are at the root of many bugs. Did you know that switching from a 1m Thunderbolt cable to a 3m cable adds 6 nsec of latency to each packet? A PCIe device at the end of the chain may have 50 nsec or more latency added. If you have several busy Thunderbolt devices - much larger latencies will occur because of contention for bandwidth.
One shouldn't expect that drivers written for a device on an internal PCIe bus will be flawless in this new environment
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And think of the potential "ImacBookStation" - a killer product that Thunderbolt makes possible. Apple is often criticized for not having docking stations, so take basically an Imac and remove the CPU/GPU/memory.
Add Thunderbolt, connect DisplayPort to the monitor, and connect the PCIe to a small mainboard with PCIe devices for GbE, SATA, eSATA, USB 3.0, 1394a/b, sound card. Keep the optical drive (makes it easier to drop the optical from the MacBook). Add two or three 3.5" SATA disks (probably room, since the PCIe mainboard is much smaller and cooler than the Imac motherboard).
Plug it into the MacBook, and a half dozen or so PCIe devices and sub-devices appear - suddenly MacBooks have an incredible docking station. Unplug it, and you're portable again.
But a lot of software has to make that happen.
Were it a new standard complete with a complicated driver stack, that would be significantly more difficult to adopt and a lot more risky.
Often people give the advice to avoid .0 software and initial hardware versions, and to wait for .1 and Rev A.
Since there are no Thunderbolt devices on the market, there's no chance that Thunderbolt has had significant interoperability and realistic real world testing in multi-vendor production configurations.
While certainly the transparency of Thunderbolt is good, some caution is in order.