This looks pretty slick. The styling the admin uses currently really needs an update, and in that way this project could be a really nice boost and/or contribution. I'm not entirely sure however that having Bootstrap as a major dependency is the way to go. Perhaps it's better to keep it a bit simpler, CSS speaking, and allow easy overriding of the styling by providing a custom CSS, so that every project can easily change the styling of the admin. I also think the underlying views would benefit from a rewrite, and it would be handy to do that with the restyling.
Long story short: Django's default admin UI definitely needs a redesign, but I'm not sure this project is the way to go to merge into Django itself. It's probably better to do that as part of the real Django development cycle, so views can be adjusted as needed, and without being so bloated with so many dependencies.