I’ve had a look at he introductory webcast.
Wow – there’s a whole lot of functionality in there to introduce in one swoop – that’s what having the resources of SAP behind you gives.
The question I guess isn’t whether they can build the product, it’s whether the customers will come, whether the investors will be happy with the changed revenue stream and whether they are too big to move nimbly enough to keep the product moving.
Watch this space!
Update – similar sentiments expressed here at ZDnet
Ben Kepes is an analyst, an entrepreneur, a commentator and a business adviser. His business interests include many industries from manufacturing and property to technology. 
Krishnan Subramanian is an entrepreneur, cloud computing analyst and consultant, open source researcher and evangelist, one of the industry’s most prolific bloggers. 
Definitely will be fascinating to watch it unfold. I think their biggest challenge is internal to SAP. Getting the sales people to move in that direction decisively, for example.
Cheers,
BW