I checked it out. Black's most common response is 1...e5. After that, white's two most common second moves are 2.Qf3 and 2.Bc4 (while 2.Qh5 is 5th most common). So, it seems that the majority of games beginning 1.e3?! are games where white is played by a beginner going for a variation of scholar's mate.
Other things of note here: with 1.e3?! black wins 57% of the time - and if black replies 1...e5 or 1...c5, black wins almost 2/3 of the time. Even if you look at master games beginning 1.e3 black wins amost 50%.
Why would anyone want to open like this? I don't know. Seems like at best it just wastes a tempo, since white normally wants to play e4 at some point anyway. Although I guess you're right that it could transpose into some 1.d4 opening. But then, why not just open 1.d4 in the first place?
Interestingly, 1. e3 is the third most played move on chess.com according to the Game Explorer: http://www.chess.com/explorer/index.html?db=2
Since when did e3 become popular? I suppose one could play a reverse French Defense (1. e3 e5 2. a3 d5 3. d4) or a game could transpose into a queen's pawn opening with 1. e3 d5 2. d4. Can anyone shed some light on this?