Technically the only thing they have against OBS is probably encoding, as OBS already uses the GPU pretty much as efficiently as is humanly possible (probably pretty much identical to how shadowplay functions in terms of capturing textures). If their encoder is proprietary and not usable with GPL, there's nothing I can do to use it. CPU encoding via OBS is not that bad, and there's always quicksync, and other encoders may be added in the future (especially for file output).
Honestly, if you want to use their program because of their proprietary GPU encoding, then it doesn't particularly bother me. I made this program to be a free option for live streaming, so I don't really consider them "competition" in the same way that companies would see it as competition; I just see it as another free alternative, which is fine by me (though I personally prefer being able to view and modify the source code of programs I download both out of interest and security).
That being said, nvidia software is for machines with nvidia GPUs only, and OBS will always support other GPUs, and have more features in terms of broadcasting and compositing, especially in later versions (to an extreme degree even). Even simple things like text output on the stream probably isn't possible with their software, it's most likely limited to capturing a game and maybe a webcam plus mic or something. But like I said, if you just want to have a simple stream with without many features, using their software might be a better option depending on your system. It's honestly up to you.
I *do* hope their GPU encoder stuff isn't proprietary because honestly they'd have nothing to lose by making it usable to free software makers, but that's up to them. I would love for it to be implemented into OBS, but they haven't been too particularly friendly towards free software in the past so I suppose I can't expect much out of them. Intel on the other hand has been wonderful, and quicksync is fully usable with free software, which is quite nice.