Does it really? I mean, sure, they are both RDBMS's, but that's a pretty broad market. Are there really that many use cases where, with the current market, people who are using MySQL would have Oracle as their next choice or vice versa?
I can see an argument that MySQL competes with some of the same products that Oracle DB competes with (but in different market segments than where Oracle DB does), but I don't see them as directly competitive in any significant sense.