Linux Planet has an article on the apparent origins of Oracle's new Linux offering. They are not kind, but neither should they be taken as a final report, as Oracle has not yet finished polishing their product.
Actually, it looks as if they have not polished it at all.
Their offering is apparently based on CentOS, which in turn is based on Red Hat Enterprise Linux. The CentOS folks go to fairly great lengths to ensure the integrity and performance of their product (so does Red Hat, but I'm sticking fairly close to the user and not thinking too far up stream). At this early stage such care is evidently absent from the Oracle product. It might be a case of simply being too far from the "source" or parent distribution, which has caused some problems for other distributions in the past. Trial users have described the Oracle distro as "buggy", "inconsistent" and "insecure".
We shall have to see how this one comes out. But so far, it looks as if Oracle's Linux is mostly Ellison's hot air.