I think this one has new patches instead of just repackaging / rehosting the MS ones. Also the wording makes it sound like this is an analogue of the Linux "live kernel patch" model but for Windows.
The live patching is new, but it doesn't say where they are getting the patches from (I suspect Microsoft's). I dunno, I suppose it could be slightly more convenient, but it's not like patching/maintenance windows are that big of a deal for the majority of environments these days.
It's not like this is Linux where every man and his dog can compile a version with custom flags. There are only so many actual binaries out there. Not a lawyer so can't comment on legality.
The also make it sound like they also patch some non-windows software. I'm curious what the quality of these are. It seems fairly easy (if expensive) to binary patch most code most of the time but I would have to expect that there is a non-trivial rate of crashes or incomplete fixes with this approach. But maybe better than nothing?