It just looks really cool and turns fists into a decently powerful attack.
They removed the standing on it part so yeah, just a pretty effect giving free damage 
(Plus have you seen the clip of the new effects for windwalkers? It blends in so nicely now that every attack is green)
I still mourn the loss of dragon punch and xuen but I’ve been replicating the midnight talents in live as best I can and it still feels good to play. So im hoping the new talents also make it better 