Also, here are some other fun implications (besides the different age) that actually can come from this paper (that I can think of, there are definitely more):
If the cosmological constant/rate of expansion acceleration may change over time, can it also change across space? Some parts of the universe might expand at different rates in this case.
The fate of the universe is no longer defined by the value of w. It can behave in one way in current time, but change again and alter what awaits the universe in the future.
New physics! Time-varying cosmological constant might force us to revise general relativity (since it’s specifically a constant there), or can somehow tie into quantum gravity, for example. Or suggest an existence of a yet undiscovered field.