News Researchers pack a "quantum light factory" into a 1mm² CMOS chip — combines photonics, electronics, and quantum hardware with traditional silicon...

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What is the chip useful for? Is it a full quantum computer with a handful of qubits?

Even something basic like "quantum random number generation" might be useful enough to be included in microcontrollers like ESP32 if the chips are tiny enough and customers want that capability.
 
The current transistors take a voltage on the control pin (gate) to control if electrons pass

We just need something that takes photon intensity to control if photon pass
 
As far as I understand it, there is no quantum computing equivalent of RAM, yet. This pretty much disqualifies the tech from running any tasks needing lot of data, such as "AI" (machine learning and inference).
Though I guess this will still encourage QC cultists to pump the garbage QC stocks (Rigetti, D-Wave, IonQ, QUBT, etc.) some more.