What's THIS For...! was released in June 1981 by E.G. It reached No. 42 in the UK Albums Chart.
One single was released from the album, a double A-side 7" of "Follow the Leaders" and "Tension". The 10" version included "Follow the Leaders (Dub)". It reached No. 55 on the UK singles chart in May 1981.
A remastered version with three bonus tracks was released in 2005.
What's THIS For...! was generally well received by critics. Trouser Press described the album as "nearly as terrific" as their debut album, "bringing funk to ambient music, implying feeling sublimated in a chaotic world".
Paste magazine's Josh Jackson listed the album at No. 48 on his list of "The 50 Best Post-Punk Albums", noting that "the real genius here is the human emotion that comes through such spare efficiency".