It is like email--they are both communication protocols. Why would he compare a protocol to a product that uses a different protocol? It's like comparing bittorrent to Firefox.
The creators rightly dismissed the question of monetization because you don't monetize a protocol, you monetize programs built with it. The demo is just one of many potential products that can be built on it, so they can't answer that question based on it.
They rightly dismissed the competition of Sharepoint and Outlook because that was primarily a presentation of the protocol. The demo seemed like something thrown together to show how communication through the protocol looks like, and not the premier application that they will use it for.
I have an idea for potentially using the protocol for a distributed issue tracker that would work well with a DVCS; the protocol is not limited to Outlook and Sharepoint competition.