There are probably many answers to this. The "big one" of course is that AWS is not a free market. Amazon holds something like a monopoly, and fixes their pricing as they see fit.
Zennet offers the same infrastructure technologies that AWS does but with price negotiation. It enforces competition.
I strongly disagree! Because AWS "prices out" those poor kids in Africa and Zennet allows for open exchange there is an opportunity here for those kids that amazon can never (or would never?) realistically offer. Zennet would even allow for some provider to choose to *donate* overflow cycles to those poor kids.
In the end it will likely do both, but only on some fronts. It will compete for HPC business, and will disrupt for pricing of highly elastic but continual workload. Remember that AWS and Zennet serve different-but-overlapping use cases, so there are some applications for which AWS will always be the better choice and for which zennet will neither compete nor disrupt. It will never be able to attempt to compete on availability assurances and will never be able to attempt to disrupt Amazon's advanced, high-level I/O facilities. (Because this is simply not something it "can intend" to disrupt in a meaningful way.)
It is a competitor, but not a direct competitor. It is a disruption, but not a total disruption.