I see some differences, instead of Pulsar functions RedPanda has gone the extra step of using WASM, suspect the Pulsar community will end up going this direction as the whole community begins this push forward.
Got rid of Zookeeper, I've never truly understood the hatred toward Zookeeper aside from the viewpoint of it being one more external dependency the project requires.
Compatible Kafka API, this is a smart business choice to grab up any business using Kafka that is unhappy with the operational costs of Kafka and want to move off. Pulsar has a connector for Kafka which lets a business leave their existing work entirely untouched and stream to the new source taking the strangler pattern approach. The problem with compatible API is still the fact you need to touch the running system to point over from Kafka to RedPanda and then it opens the cans of worms on how to handle aborting RedPanda roll out and switching back to Kafka without losing data. Business now needs to modify all their existing code where Kafka is producing to also now write to RedPanda.
The other option I see is just the same which is RedPanda has a connector to Kafka and only streams off the existing Kafka which kind of makes the API compatible IMO pointless aside from marketing & sales standpoint with customers.