There are a number of things that make the Bugatti 16/4 Veyron significant.
Heritage: No other exotic car builder has the heritage of Bugatti. The first Bugatti was built in 1911 and the company was known for its engineering and styling through 1940. Bugatti cars are held in such high esteem that the "Royale" model (of which, only 6 were built) held the record as the highest price ever paid for a used car (over $8 million in 1986). Since reviving the brand in 1991, the company has harnessed this heritage on premium cars fully deserving of the Bugatti name. Production of the new Volkswagen-built Bugatti returns the brand to its home in Molshiem, France.
Engineering: A sixteen-cylinder engine out-pistons any other current production car engine. Four turbos out-turbo any other current production street engine. A reported 1,001 DIN hp would out-power any production street engine ever built to this point.
Exclusivity: Production is planned to be no more than 60 (or so) units a year. And at a price somewhere just south of a million dollars, you won't see one of these cars at your local cruise night.