Photos might be able to compete with Lightroom after a few major updates.
We all remember how limited Final Cut Pro X was at launch... but it eventually got better.
Apple threw out all the old code in FCP7 and started from scratch. Here's to hoping Photos follows a similar path.
While Photos may surprise us somewhere down the line, I think things are a bit different from the FCP X situation here.
iMovie continues to exist alongside FCP X; FCP X is still aimed at the pro market and offered new unique features for pros even at launch, even though it was missing a lot initially.
The other thing is that Apple is officially supporting a migration from Aperture to Lightroom. That clearly sends the message that they are giving up the pro market. There is a remote possibility that they are planning to take back the pro market years from now, and they are offering this option because they know they can't deliver any time soon, but you'd think they'd keep Aperture on life support for a few more years if that really was the case.
Personally I'm excited for Photos even though I like and use Aperture (but I'm a non-Pro who happens to own a DSLR). Seamless workflow across iOS and Mac would be great for me. App Extensions could propel Photos forward with 3rd parties being able to contribute.
I assume Apple is providing a migration path from Aperture to Photos, which will be nice. But that's too easy not to do (whereas no FCP 7 -> FCP X was disappointing but understandable from a technical perspective).
As for Camel Audio, I'm glad they are not disappearing completely. But I expect their plugins will become Logic-only instruments and won't be usable from other DAWs. I wish Logic instruments could be used as plugins in other DAWs, as there is a lot of great stuff in there that can't be used outside of Logic; at least let us use Logic as a Rewire slave (former Logic user here, now using Ableton Live).