For those not familiar oxytocin is the pair bonding hormone that creates a feeling of trust, bonding and love within mammals. It is released in massive doses during orgasm and childbirth. I assume that it is being developed for intranasal use because that will allow it to partially bypass the blood brain barrier.
This is the most exciting drug development, since well, forever. IMO this is going to radically change civilization. Well maybe not this specific drug itself since it wont be that powerful, but it will get the ball rolling when people realize how fantastic this stuff is and soon some chemist comes along and changes a few functional groups to make an analog molecule that is much stronger than natural oxytocin (think of the difference between endogenous endorphins and heroin). Forget MDMA, forget LSD, forget alcohol, the oxytocin line of drugs will change society more than anything else.
Conventional attractivness will be rendered obsolete. No longer will our genes rule who we are attracted to. That shallow girl with the big tits or that dickhole guy with the 17 inch biceps will lose their competitive edge. Human beings will no longer have to trade off how much they enjoy being around someone with how sexually attractive they find them. And yes the tradeoff exists at a massive scale. Daniel Kahneman, the worlds foremost researcher between human happiness and behaviour and Nobel prize winner in economics, has found that people report that sex and spending time with their friends are the most enjoyable activities, but spending time while not having sex with their spouse is reported as not enjoyable. The reason being is that people end up being with people they only like marginally personally because of the sexual compatibility. But with oxytocin around youll be able to get with that guy/girl that you know would just be great for you but where theres simply no chemistry. No problem, apply some oxytocin, and boom they will appear as attractive as Jessica Alba after being oiled up for a Maxim photoshoot.
This is huge, attractive mates are the last scarce resource that our primal selves desire. Food is overly abudant, disease is largely eliminated until old age and sensory stimulation is everywhere. This will finally allow all of our base instincts to be satisfied and set humanity on the path where people have no other goal but to self-actualize, to achieve for achievments sake. Forget the new tryptamines or opiods research drug chemists, start tweaking with the oxytocin molecule and you could be remembered as the greatest person of the 21st century.