Thankfully, they're not going Rhianna on Shapeways.
They are Resurrecting the Thingmaker and turning it into a low-end 3D Printer.
So... Here's the thing: Being based on an App that only allows Pre-Set patterns to be used sounds great for beginners to 3D Printing, but the little pics I've seen do not Let me appreciate the capabilities of the Printer itself. Remember that EVEN Professional Prints from Shapeways have some issues. A Lower end Printer such as this will not yield professional results. Not to mention the whole App with Pre-Set pieces. Betcha that's where Mattel will get most of the money. Part update paks being sold for pennies or a few bucks.
Shapeways Masters do not have to worry about this taking away their business. What worries me is idiots using this and getting hurt... I know the Printer shuts itself while printing to prevent this, but Stupidity ALWAYS FINDS A WAY. Or I can almost hear the Little Timmy choked on one of your printed items. Let's see how this will turn out.