With the exception of adding additional addresses that previously was done by the mapboxes of the world, I don’t quite see why everyone is reading an ‘open google competitor’ into this. Overture has neither announced open aerial / sat data nor open traffic data and I don’t see any economic reason why that would change. These are the things that most people find missing in purely OSM based apps.
I would aggree that technically the Overture play is similar to what cloudmade, mapbox and others have done in the past and what others that haven’t pivoted away from that yet are still doing. But as I pointed out in my 1st comment, there is a qualitative difference between having a multitude of small players serving as an intermediary and a single big business pressure group as sole distributor.