I don't think it could/should be used to create eternal youth for humans (which is ultimately a terrible idea), but it's still cool for science!
Ultimately, it's an awesome idea!
Yeah! Rampant overpopulation, overflowing prisons as people kill one another for space or inheritance (can't just wait for you rich grandmother to die now), complete disruption of the economy, dissolution of the generational balance that keeps things like employment, health insurance, and real estate stable.....
Throw in the ethical and philosophical questions that would inevitably have to come with it (do we give eternal life only to the rich? should we bring dying people back by giving them magical youth potion? do bad people get to live forever too? does life even have a purpose if you get to keep re-doing it?), and you've got yourself a great time living forever on a really shitty planet!