Rocket is a new container runtime created by CoreOS as an alternative to Docker. It aims to address some perceived flaws in Docker's design by having composable components for building, running, and distributing containers. It uses a new App Container format and tools like rkt and actool for working with containers. The document demonstrates migrating a Docker container to Rocket and running it, showing Rocket's capabilities. It also discusses the initial reactions and debate surrounding Rocket's introduction.