"Hardware-based encryption for notebook hard drive is new"

No it isn't. You have been able to get hardware encrypted flagstone hard drives for ages and they meet government certification for classified use which I doubt the Seagate one does.

Um IBM think pad HDD has those now for the average joe

The Seagate Drive is essentially a NEW THING.

One it is linked to a TPM so the key isn't sitting around to be grabbed.

Two the encryption happens on the fly.

Three the Wave software handles centralized key management with remote access

Four The removal of the key creates an instant erase ability

Five All this happens BEFORE boot-up so it doesn't involve theOS

This SHOULD become a new standard in protection for Data at Rest.