It's classic political posturing which is unlikely to result in any real changes. But with the 2024 election coming up, Biden is looking to shore up support from Black and Latino voters. Support among those demographics has been softening and they were instrumental in his win in 2020. While gun violence isn't just a Black or Latino issue, it has historically polled as more important among those groups; so, some sort of token support for it, along with raising Kamala Harris's profile, could be seen as having a net positive effect.

As for any sort of real impact, I'd be surprised if it did anything more than put out reports and news. The single most effective change would be to either move handguns under Title II of the National Firearms Act (which was part of it's original plan) or ban civilian ownership outright. However, the decisions in DC v. Heller and MacDonald V. City of Chicago basically mean that the latter option is off the table. The former option may be more viable, though that could also put the entirety of the National Firearms Act squarely in the cross-hairs of the Supreme Court, which may be a very bad plan right now. Also, any such change to Title II would likely require Congressional action, and the probability of that is probably somewhere between "No" and "Hell No".

Ultimately, I'd expect the new office to be long on grandstanding and short on action. But, if it ends up driving more minority turnout for the 2024 election, it will have accomplished it's unstated goal. After that, it'll lurch along until it gets defunded and/or killed outright the next time a Republican is elected President. And ya, while many of the folks here may hate that idea, it's likely that will happen again and probably sooner than we all think. Regan won in a landslide less than a decade after Nixon left office in disgrace. And Biden's win in 2020 was on razor thin margins. The US is pretty close to evenly divided politically, it only takes a small shift for either party to win.