This Skype update is more feature that allows you to host a meeting with more than 250 people and integrated into MS Word, MS PowerPoint, and Outlook. It allows PowerPoint collaboration like do a screen sharing and laser pointer etc.
For the first two months, it will allow you to used only ten people. After that, the maximum number of participants will drop to three people. The members can join meetings from any devices with the access URL, and calls powered with the same technology of Skype Business call.
The Microsoft is trying to compete with Hangouts, which GOOGLE can build suits into its office tools.