This is exactly why we nagged them incessantly to launch. Other people had to be working on it. But if you launch first, the latecomers are described as "justin.tv." People need a name to talk about something, and if you're doing something there's no name for, they just use the name of whoever was first.
Ustream was described as a "poor version of Stickam" in the post :-)
We launched over a year ago on Stickam and have done mobile broadcasts at Techcrunch, Sundance, with Paris Hilton, etc.
We're actually excited about Justin.tv though. It's helping to bring attention to the concept and there's room enough for at least a few big players. We're also very friendly and open to working together -- unless Justin guys feel they need an artificial nemesis :-)
I also personally love it since I'm a big YC fan, enjoyed using Kiko, and generally love streaming technology.
