CORRECTION: EPS bypasses space-time and the data is transmitted instantly between entangled protons photons.
And by instant, you indeed mean instant!
There is zero signal delay. In theory, one could instantly communicate with, say, a rover of the surface of Mars. No waiting 10 minutes for a signal to travel across space in each direction.
You’re right. If they really have this technology, and I’ve read papers that it exists at least in the lab, then it is the biggest communication breakthrough in 50 years; maybe the biggest breakthrough since the invention of the telephone.