If you take this news as a whole, it's not nearly as bad as it sounds at first. Verizon's version of the new Moto X will not have simultaneous voice & data when it launches. Apparently, it will be the first Android device which will need Big Red’s new Advanced Calling 1.0 feature in order to enable simultaneous voice and data.
Even though it won't have this functionality immediately out of the box, according to the leaked internal Verizon memo, the company plans an update later this fall which will bring the Advanced calling 1.0 to the device, thus enabling simultaneous voice and data as well as VoLTE (Voice over LTE). Here's a quote with a few more details,
This means if you make a phone call while on Verizon’s LTE network, your phone will no longer use the CDMA connection to place the call. Your call will go out over the LTE data connection instead.
Supposedly, the reason VZW is handling it this way is because they plan to move away from their aging CDMA network, and this will help facilitate that.
Source: Phandroid