It's a huge deal to make it to the Etsy home page - you are seen by literally millions of handmade aficionados all over the world. Occasionally one of my pieces makes it and it always results in tons of views and sales.
The FP, as Etsians call the home page, uses "treasuries" made by sellers and buyers. Hundreds of treasuries are made every day, so it's a big deal when Etsy admins pick yours to feature on the FP. I was lucky enough to have my Urban Chic treasury featured on the front page at 11pm ET on January 31!