Their Freeform app is nowhere near good as Notability or OneNote. I doubt this journaling app will be too bad for other developers. May be it will create more interest in that category.
(1) It's brand new. (2) Freeform isn't a substitute for either of your examples. Miro and Microsoft Whiteboard are good comparisons, except they target enterprise while Freeform and other Apple "office basics" apps target personal/education/small business use.