Proof that God is still creating new species!
[That’s a joke] 
I don’t know about that but it certainly is fascinating.
According to the article, the last common ancestor of this and other known species would have to be over 500.000.000 years ago.
There’s a bit of hype and a bit of science journalist misunderstanding. I like the bit about it being less closely related to other life than animals are to fungi, since animals and fungi are quite closely related as these things go. So what they’ve done is provide the first DNA sequences from a previously known taxon that show it to be a quite deep branch within eukaryotes. Most deep branches within eukaryotes are more than 500 million years old, so again no big deal. Here’s the actual article, which you should always check to see what it’s really about.