Is Jacksonarts going to be an industry player?

Peter Jackson announced at X06 that he has teamed up with Xbox to produce games for the 360. These include an “original chapter” for Halo (whatever that means) and an as yet unnamed title. Declaring himself “a little bored” of film-making, Jackson has established Wingnut Interactive as a off-shoot of his Wingnut Studios production company. This reminds me of when George Lucas founded the game development wing of his Lucasfilm production company in 1982, now Lucasarts. I wonder how things will pan out for ol’ Petey boy.