It looks just like a text message. That means that if you get two of ANY alert (alarm, calender, SMS, Push, missed call, etc), you will not be able to see the pushed content. When you unlock the phone it won't open to any 3rd party apps and the alert can no longer be accessed. All you will be left with is nondescript badge icons that will let you know something for a particular app has been pushed to the phone. How will they handle clearing the badge icons?
Isn't the general concept of the badge icon to let you distinguish new content in an app from what has already been addressed? For example, in messaging and email it differentiates unread from read mail/messages and a task manager app differentiates tasks that are "due soon" from completed. With a news app like this, however, all of the content is essentially going to be new each time you open the app. A badge icon will be meaningless. Will the badge icon be cleared when you open the app? Will you have to open each new article to clear them? What is the point of getting a text notification for every new article that is published (by category or not) if you will only be interested in a fraction of them anyways? Furthermore, many outlets already use SMS notifications for certain events or stories you are interested in tracking. Apple has seriously wasted a year replicating this functionality with it's own infrastructure?
Push will be an epic failure. I will be laughing my ass off around ~January when Apple releases iPhone software 3.5 - "now with multitasking!" and push is never heard from again.