Citybound is aiming more for the Cities: Skylines approach to traffic and simulation.
I'm a big city-builder fan and have tried almost every one I can get my hands on. Among myself and some others, there is the feeling that the SimCity series peaked at SimCity 4 and I'm hoping to recapture that feel. It seems that Citybound is going in a totally different direction, which is fine, but that's not the aim of this project.
I hope to play Citybound when it is released but I do not think this project is redundant.