What does Exodus 3:8 mean?

'So I'm coming down to rescue them from the Egyptians and to bring them out of that land into a good, spacious place—a land full of good things, where milk and honey flow. It's the land where the Canaanites, Hittites, Amorites, Perizzites, Hivites, and Jebusites live.' Exodus 3:8 - Modern Text Bible

(God promises not just to free the Israelites, but to give them a new home that's abundant and good. He names the current inhabitants to show the reality of the promise and the challenge ahead.)