Oh, don't get me wrong, re-writing OGL from scratch is a good thing. Very good in fact. But remember, NVIDIA/AMD could be supporting up to five different graphical API's in their drivers now: DX11, OGL 4.x, DX12, OGL NG, and for AMD, Mantle. Which begs the question: Which API's are going to get shafted due to difficulty writing the drivers?
Hence why both MSFT and Khronos better be careful designing the API, since implementation will likely determine its success.
Standards wars are good to have every know and then. It forces the entrenched parties to rethink their methods and implementations and the sudden increased competition puts pressure to create the best all around solution. Remember the entire reason MS Windows dominates the gaming PC industry is due to it's monopoly on the leading graphics API, DirectX. They don't have much of an incentive to innovate or improve and so stagnation sets in. This upcoming API war will change that, I fully expect a ton of good features and software improvements to result from this.