I don't think competition is evil, I encourage it. But Bancor doesn't even do yet what Tendermint (and OpenLedger / BitShares, for what matters) is already doing. What I try to warn about is the content of the business, Right now, there is no content in the Bancor business, whereas Tendermint and Openledger are battle-tested ecosystems. Putting that amount of money into a content-less business is risky, to say the least.