Eventually something will come out of it. Maybe a few things.

Most likely a mesh battle-net for AI autonomous one-way drones. A way for the military to target an incoming adversarial thing without manually designating a kill vehicle like an SM-3 or whatever. It will be more like a job posting - the incoming target is designated, and whatever gadget is in the area most suited to take it out sallies forth. If that thing gets shot down or fails, the drones all have a chat amongst themselves and another gizmo picks up the job and has a try. So the kill vehicles don't really matter, what matters is that the job gets completed autonomously. The job replicates across the battle-net untill success. But this happens on an extremely complex battleground, with thousands of drones, missiles, interceptors and other assets all juggling thousands of jobs. At least, that's my takeaway from what I've read.

Much like Joint Strike Fighter was a Program, X-35 was one of a few projects, and F-35 was the product. Replicator is the program, there will probably be a dozen projects competing to solve the requirements, and then maybe a few products at the end that go into mass production.