The key word is "DISPLACEMENT." Offensive players that create space by "backing down" a defender OR defensive players "bodying" offensive players off their spot on the floor are examples of fouls that must be called. From a player's perspective, all this means is the same thing it has always meant. Any player is entitled to any spot on the floor PROVIDED he gets there first and gets there legally. The referee will have to be alert to see the play develop and be able to determine which player first legally attains a spot on the floor. If he does this, he will be able to make his judgment accordingly.
When watching this play we need to go back to Rule 4--Guarding
ART. 1 . . . Guarding is the act of legally placing the body in the path of an offensive opponent. There is no minimum distance required between the guard and opponent, but the maximum is 6 feet when closely guarded. Every player is entitled to a spot on the playing court provided such player gets there first without illegally contacting an opponent. A player who extends an arm, shoulder, hip or leg into the path of an opponent is not considered to have a legal position if contact occurs.
What's your call!