Actually better than Kinect
Because it uses the PS3 as the server, doing all the number-crunching, and then sends the results via networking.
What this means is it's not just PC, it can be hooked up with anything with neworking, e.g. Smarphones etc...
It also means this pikey hackers can't decompile the motion algorythms, as they are still locked in the PS3...
I'm also curious why people think this is a result of what Microsoft did with Kinect.. That's a rather naive thought, as clearly Sony have been offering home development on consoles since the 1990's with PS1 (Net Yaroze), PS2 Linux and PS3 Linux (until the hackers spoilt it for us and used it to try and hack the PS3).
Microsoft have done prettymuch jackshit, except not lock down Kinect, have opensaucers write some drivers, and then jump in and pretend that was their plan all along.