Accelerated Mobile Pages

I keep hearing about Accelerated Mobile Pages, which was a Google initiative that has now been taken up by CloudFlare.

I gather it rewrites some of the html and Javascript for enhanced page loading speed, but am I right in thinking this is a really bad idea with a Blocs site and likely to break something? If the only side effect is improved speed I’ll jump on it.

From what I’ve been reading just now it looks like this is more of a solution for speeding up websites that produce separate versions for desktop and mobile.