It has some potential, me thinks.
It's an upcoming release, this being the first official photo. That's a 28mm model next to it for scale.
(http://1.bp.blogspot.com/_4nzgPbHlNo4/TU4s_7GZjrI/AAAAAAAAJsc/61ieMVrHscU/s1600/WraithEnginePhoto.jpg)
Despite being mechanical it has a distinct Tyranid look to it. With a hefty amount of conversion work that would make one almighty Carnifex.
Gadzooks! That is a beautiful model ;D Lots of potential there.
Looks perfect.
Body for carnifex
Tail for another tyranid/xenos creature
Head and arms for a necron construct
Any idea of a price yet?