Couple things.
There are currently three levels of GPU deployment with nVidia cards today.
Svga- software virtualized graphics adapter. You install the graphics driver on the host and the vm software virtualized the card. The guest os see it as a software solution. Only really good for standard office stuff.
Vdga- virtual dedicated graphics adapter. This is the pass through option. It's a 1 for 1 thing. Using grid K1 cards for instance we can setup 4 people since one card has 4 cards built in. Designed with cad use in mind but in my testing I'd be hard to find that acceptable.
Vgpu (newest of the bunch and requires vm 6+). This basically mixes the above two. It allows multiple people to share a card. Provides much better performance than svga.
It sounds like this new solution from AMD has actual virtualization tech built into the card like a hyper visor to allow it to be shared out. Haven't read much into it so I'm curious how it works from a tech standpoint but this should allow less interference and the vm to run more natively with the graphics.
I am not a systems administrator, but the more I read, the more I get the impression that whoever is in charge of promoting this for AMD is asleep at the wheel.
http://www.amd.com/Documents/Multiuser-GPU-Datasheet.pdf
I'll give AMD a pass for their datasheet being out of date with respect to GRID 2.0 and the increased user limits. Still, there are claims here in comparing it to GRID that are clearly wrong. "Dedicated share of local memory" GRID does, and "Stable, predictable performance" is a bit nebulous, but in a time-slicing system you certainly expect GRID to be able to deliver that (and I've never seen any claims to the contrary).
AMD's entire premise seems to be a year out of date, written on the basis that NVIDIA's vGPU capabilities don't exist. All of this only makes sense if you're comparing AMD's solution to a true software solution, e.g. RemoteFX and VMware vSGA.
Which isn't to kick AMD here. Based on this announcement they finally have a vGPU technology of their own, which is a good thing for them. It only brings them back up to parity with NVIDIA, but it's where they need to be.