Microsoft's Photoshop/GIMP Killer?

Seems as if Redmond is trying to penetrate the "graphic designs" market with a new product codenamed Acrylic. Microsoft says "Acrylic is a professional illustration, painting, and graphic design product" with no release date as of yet. A screenshot, forum, blog review, FileForum review, Slashdot post, and alpha download here and here are all available.