Disclaimer: I work for foursquare.
In some ways it's better, in some ways it's worse. In the long-term though, we feel that this is the right move. OpenStreetMap and MapBox will be improving continuously, and with open data we can drive those improvements in ways that we couldn't with Google data.
I've been following OpenStreetMap since it launched, and its really a testament to how far its come in the last 7 years that it's good enough to be used in major consumer websites. In many ways, this is an effort that dwarfs Wikipedia in size, complexity, and ambition.
We're excited to be making use of open data, and will be even more excited to start contributing back in the near future.