This passage shows the implementation of Confirmation. The people had been baptized with water, Peter and John called down the Spirit upon them to help them.
Because Philip is a deacon, and he could not help the people, and he called Peter and John down, it signifies that Peter and John probably have experienced the Spirit to a higher and deeper degree. At this point, Peter and John are exercising the priesthood.
Peter responds harshly when Simon offers to buy the gifts of God. This shows that the Church was very receptive of the gifts that God offered them through Jesus.
Today, the 'laying on of hands' is still known as the laying on of hands. The Church performs the same actions today as they did in the first years of the Church.
The sacraments represent the best way to get God's grace. Its good to be open to God's grace and seek it, but to seek it greedily is bad.