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It is an APS-C lens with an MFT mount attached to it. The focal length stays the same.
It will do the same thing as the existing Olympus 12mm f/2, or something similar to a 16mm lens on an APS-C camera, or a 24mm lens on a full frame camera. Similar, because the aspect ratios are not the same.
I would hold off to see how it performs. I doubt anyone has this lens yet.
Depending on the price, you'd have to compare this to the Panasonic 14 f2.5 which is stupid affordable and pretty well made. 24mm vs 28mm on M4/3. Both are plenty wide.