Epic Games Store is now Live
Online Store - https://www.epicgames.com/store/en-US/
You can install Epic Games as you would Steam and purchase / download / play games through it. I've not done so myself yet but I imagine they just updated their launcher to be the store. Perhaps anyone using the Launcher can share their experience now that the store has been launched.
Epic is currently advertising they will be working with their partners to give away a free game every 2 weeks. The first two look to be Subnautica (12/14-12/27) and Super Meat Boy (12/28-12/10).
I can't imagine a Steam competitor being a bad thing for consumers. Should be interesting to see how this does.