Were you part of the investor call yesterday?
Charif addressed this point at length during the call. They've known about it for quite a while and he didn't think it would play in a different space compared to them.
While it's a competitor, they don't directly compete with this offer. Reason being is that while being a backup service, it's not a true disaster recovery solution given your backup is held in Azure
If your admin account were to be hacked, they would have access to the M365 backup as well
The DSE solution backs it up to AWS, which means it's segregated and therefore, more "secure"
In addition, he mentioned the MS solution is 2-3x more expensive than that of DSE
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