Progress. You back up the car and it beeps if anything is close. It can sound annoying, but hopefully it stops people running over people behind them.
The problem is that it gives you a false sense of security. I now know a handful of people who have all done the same thing:
Whenever I reverse out of my garage, the car beeps as it is close to the side of the garage. Yesterday, when I reversed out, it beeped, and then I hit a car that was parked behind me.
I need to keep reminding myself to not assume what the beeping is in reference too, else I will get into trouble too :)