My (very amateur) interpretation is that this weakens confidence in P!=NP. Would like to hear from some experts in this area, if this is so or not.

Scott Aaronson comments on his blog "Given this news, I’ll up my personal probability of P=NP from 3% to 5%." (https://scottaaronson.blog/?p=10239#comment-2042428)

This proves that EXP != NP, which was a stronger claim than P != NP.

In a way it shows that NP is perhaps less distant from P than imagined. Whether it can be _reduced_ to P in some gigabrain way, or whether that can be shown to be impossible remains to be seen.

It is definitely progress towards an answer to P ?= NP.

There's a chain of classes P, NP(aka Sigma_1), Sigma_2, .., Sigma_n, ... PSPACE, EXPTIME. What we know for sure is that P < EXPTIME, others are unknown (well, maybe this paper adds something to this, time will tell).

It's conceivable that each of them is smaller than the next, but also that e.g. P < NP = all the sigmas < PSPACE < EXPTIME or many other possibilities. I think the general consensus is that it's more likely that there are more inequalities than not, but the fact is that we can't even show that P is less than PSPACE so far, which would be extraordinarily surprising if it were true.

It basically just says that NP is not the same as EXP