It has been discussed in every subforums now. In altcoin subforum see here
https://bitcointalk.org/index.php?topic=141432.0No I don't think it 'competes' with bitcoin. It's a credit pegged to US dollar and backed by Amazon. Most likely there would be hurdles for transferring amazon coins between users or selling them for dollars, just like any other prepaid credit, airline miles etc but Amazon is savvy enough to call it 'coin' to steal some mojo from bitcoin