Appreciate your opinion, but I took it as a positive. I think that was further reinforced with the need to set up other offices, eg. Singapore as mentioned. You have to remember these guys work with people hand in hand to get the desired results, and as with Suncorp example 3 days or so as a team that got along to create one product that everyone wanted. It is not a send us your idea and we will develop approach.
This is a clear money maker and as stated in the video, everyone who uses apps is going to need something like this at some point to consolidate them. Does it matter how many competitors are there? I don't think so, because, we are already in market, and because the more competitors, the more awakening of the market.
The video is well worth the watch and I wished I had these guys around when I had my internationally based company a few years back.