I think this feature has potential to evolve into something even better. For people who are rotational players or who colonize their maps with their own households, it can be quite useful for making our own "townies" with a bit of background and a few skills without having to play them or use cheats.
I can see this eventually developing into a more intricate Sim creation tool. The story questions are fine, but the real diamond in the rough is being able to begin play with skills and careers. I'm hoping that this evolves into a "points" system that will eventually allow us to spend those points on skills, finances, jobs, and (hopefully new!) personality traits. Elders would begin with the most points and children would have the least. It would be an awesome way to have developed Sims with cohesive personalities and backgrounds from the start. Fully optional, of course, so that people who want to actually earn those things through gameplay like we do now, could still do that. They should never eliminate an original feature for a new one. Only add more options.
So I do like the concept.