Waze - putting a nail in the coffin of conventional sat nav?

Waze is a mobile app offering satellite navigation services using GPS for its users on a free to use subscription. The service connects all waze users together into a navigational network where information is shared to optimise journey times and assist your fellow waze(rs) to avoid hold ups. The mobile app based solution attracted so much attention that Google decided it was worth over a billion dollars of their money to buy it out. Nice work and it remains the most successful emerging tech story to breakthrough from an Israeli start-up. The app itself has a fresh feel to it with gamification at its heart with candy rewards for activity. This is a bit of a sideshow from the real star of the show. What the device gives you is real time speeds for all the roads in your journey and alerts up ahead for areas of delays which have been flagged by fellow users. This really is social media navigation but it really works. Usual functions such as trip planning and alternate routes are offered but this speed update service for free is fabulous. Is there any need for a conventional satnav when you can use this? Epic customer experience delivered through your smart phone for free.