It's designed to let you use the desk space that would usually be taken up by a traditional monitor stand.
Samsung's example here is a little embellished, where the desk with the traditional monitor stand is incredibly messy while the desk with the Space Monitor is spotlessly clean. If your desk is typically messy, the Space Monitor might simply give you more space for more stuff to clutter your desk.
The Space Monitors cost between $400 and $500, and can be pre-ordered now with a released date of February 23.
The 27-inch model with QHD resolution costs $400, and the 32-inch model with 4K resolution goes for $500.
If you like your current monitor, you can always get a separate monitor clamping arm like I did.
If you'd rather keep your current monitor, there are several clamping monitor arms that can easily do the same thing as Samsung's all-in-one Space Monitor. And certain clamping monitors arms have more flexibility and dexterity, too.