This will definately take some getting used to. It looks like there will be a lot of really cool features, such as all variables being objects (well, still kinda mixed on this one, I like if ($var) {...} better than if (bit($var)) {...}, but I'm not sure I read that right.), and the operator: functions (obfuscation will be interesting...).
(I like otherwise, too, even if it brings back nasty memories of pascal class. :oP )
You are reading that both correctly and incorrectly; if ($var) {...} implies if ($var.bit) {...} (both of which are now the same as if $var {...}). Using somthing in a boolean context implies using the .bit method.