The idea is that naming a location by Lat/Lon is not really human readable, easily indexable, or understandable. Instead, locations should have a good URL friendly schema for accessing sites, posting to blogs, people easily getting to data on a site, etc.
So, for example, to find information for Michigan I would do:
or for the Whitehouse perhaps:
As brought up in the discussion at Where2.0, there were some concerns regarding splits across municipalities (Lake Superior is in both the US and Canada), and countries like Japan which doesn't use street addresses.
I like the push to human-readable, but semantically useful, data references and metadata.