This will help casual Wikipedia editors to use data from wikibase. The promise of wikidata is to have a central data repository. Instead of relying of complicated template transclusion, users should be able to put wikidata 'citations' with one click from visual editor.

For example someone would be able to put the property number in a certain format (like a parser function) in wikitext, but in visual text it would render just the value of the property (e.g. just the population number of New York) and it would allow you to click it and take you to the specific property of the wikidata item. Similar to how you use citoid, but instead of a DOI, you would put the Q wikidata code.

It would be fantastic if it could be configured for external wikibase installations, so that enterprise MediaWiki instances could use their own internal wikibase.