While at first glace i'd think it competes with Yelp and Angie's List, it does have a different angle. It will be interesting to see how it develops.

Ultimately, word of mouth has a very powerful influence on which service providers people choose - but more likely from people you trust as well.

Having said that, not only is the rating of the service provider important, but also the quality of the relationship of the viewer to the rater.