You hit the nail on the head, except for the copying part. Amazon was already 1 - 2 years ahead of it's competition. This announcement extends that distance and puts a lot of pressure on the third-party commercial tools. There's still value to be had (like cross-vendor support) but that could wane as people realize many of the features they want are implemented in EC2 "out of the box".
Amazon is building an entirely new ecosystem and we'll start seeing news kinds of tools (commercial and open source) built in and around it.