I wouldn't say that, really. While there is some feature overlap, it's not trying to be all things to all builders and the price is significantly lower -- like well under half the price of the VPX Sport.

If I were still building my 7, I'd seriously consider the GAD 27 -- and it would be yet another point in favor of the G3X over Skyview. I was not considering a VPX.
 
http://kitplanes2.com/blog/2015/11/garmin-team-x-introduces-gad-27-adapter/

This looks interesting, but it also looks like a poor attempt at competing with Vertical Power (by providing less capability than them). Thoughts?

I agree with the others, this is not a competitor to the VP-X series product.

Sure they sorta share a few features but by no means would I have thought this is Garmin's attempt at competing with the VP-X line. I am pretty sure that if Garmin had intended for this box to compete with the VP-X, you would be seeing a much different product than the GAD27.

I see this box as an alternative to installing multiple third party modules typically required in a more traditional approach to wiring and controlling our type of airplanes.
 
As an installer I can tell you that I've spent more than the retail price of this unit on stand alone units to accomplish the same job, and that doesn't count the additional wiring/labor installing separate boxes for each function. Add that to the integration with the G3X and it looks like a win/win to me.

Full disclosure: I am a G3X dealer but the above is based on real world experience from installing various panels/equipment from most manufacturers.