It would be if it did, but it doesn't. Both technologies are pretty neat, but if you go check out each of them you will notice that they are very different. Canvas is an image-centric social website, which also does a significant amount to replace desktop editing tools for desktop. While moot is Disqus with websockets.

Edit: Oh, and a forum component. Also, I think Moot.it are trying to sell a product, while Poole seems to be building another community.

Maybe competes was the wrong word. I was speaking more about the trademark itself. Technically they'd both be in the same "class," so Poole has more ammo for first usage, Etc.