I know Apple has lots of it, but this is just a pure waste of money.
What is the point of wasting billions to create a competitor to Google Maps and all its services? Even in the best case scenario that Apple improves upon Google Maps, Apple Maps will only be used by iPhone users because Apple will not offer it on competitive devices, period. And a better mapping app will not drive more users over to Apple because there will always be more people interested in a $200 phone then a $1200 phone, and Apple will NEVER sell a marginalized iPhone just to gain market share. They tried with the 5c, failed, and will never do that mistake again. So in reality Apple is not creating a competitor or detractor, just their OWN service.
This is one of the most blatant wastes of money by a company just because they have some old hate-on grudge against Google.
This is also part of Apple's core xenophobic behavior that has them striving to become a petulant monolithic company that excludes partnerships with other companies out of sheer arrogance and stupidity. I thought this would go away with Steve Jobs but obviously there is still a core set of execs that are carrying the torch and wasting billions rather then striking a partnership with a competitor to improve the user experience instead of hindering it.
Apple could give away a few billion or whatever this will ultimately cost, and it would do more for their brand then a competitive Street-View emulator.
Apple tried that and Google screwed them by withholding turn by turn. Apple is doing the right thing to get into maps and search. They'll maintain control of their own destiny and hurt their biggest competitor in the process. Seems like a no brainer.