The good and the bad...
The good: distance and figuring out how to lay and order cables becomes irrelevant (for small values of distance). Scaling and multiplexing should work well when there is less hardware (cables) involved. Lasers are cool and are absolutely required if you want to evolve from your 'do no evil' stage.
The bad: Need to stagger units to get the free line of sight. Dust will degrade the connection. The fly or squirrel living under your rack will get in the way of the laser. Laser safety. More dust and light scattering. Solving connection problems involves laser physics instead of some sod following the cable.
Stil it's cool, and you are finally allowed to cross those data streams.