Some further clarification on the closed source thing from their FAQ:

Why is Magic Earth free? What is the business model?

Magic Earth is free for all our end-users but we also have a paid Magic Earth SDK for business partners. For instance Selectric.de (a supplier for navigation solutions for ambulances and fire trucks), Smarter AI (developing ADAS systems) or Absolute Cycling (using the platform on bicycles). For more info on the SDK, you can check magiclane.com.

Will Magic Earth be Open Source?

No; since it is also used commercially (we have a paid Magic Earth SDK for business partners), we cannot make the code public.

Nothing competes with osmand for hiking or cycling.

Traffic updates aren't exactly a problem for me as I travel everywhere using my bicycle/public transit.

The only problem I face is that I can't get public transit information on OSM. Now ideally the city should be the one making this information accessible. Unfortunately for me, I currently live in a shitty city (although not for long). Therefore, within a matter of months, Organic would meet almost 100% of my navigation needs.