Our focus is going to remain on how to integrate a full-featured project management suite within the GitHub eco-system. The GitHub projects release will make a great foundation, and ZenHub will be there to provide the more advanced features like issue hierarchy (epics), time estimation and reporting. Lots of exciting releases coming soon for ZenHub users :)
At Waffle.io, we're all about making project management better for engineers. We believe it's awesome that GitHub is investing in this too, and we'll continue to make GitHub delicious :). More here: http://blog.waffle.io/say-hello-to-wafflebot/
I'm looking at https://www.zenhub.com/product, and while it does have some extra features (filters on priority, labels), but for most people the base set provided by github is gonna be sufficient.
Sure, it won't completely replace them, but GitHub building this as a platform counts as competition.
Using ZenHub also provides additional features like time estimation, burndown charts and Epics (for issue hierarchy) - we find that for larger teams, these are must-have features to work inside GitHub.
Founder of Zube here. GitHub Projects seems like a nice solution for very small teams, side projects and open source projects. However, serious teams need more powerful features like a well thought out workflow, support for multiple repos and burndown charts.
Shameless plug: Zube has all these things and more - https://zube.io :)
This is really not about replacing those services, it's more about building a better foundation for integrators like Waffle and ZenHub to build on.