Well, no, they aren't really in direct competition with themselves.

Barco's digital light would be the top end of the digital lighting market, closer to the equivalent of the 1200 watt fixtures.

The DL3 would be a little closer to the 575 watt fixtures.

Barco doesn't own Green Hippo, they are licensing a version of it for their digital light, and it is not just a regular hippo, it is a customized version of it.
Also, their digital light has a number of unique features that make it more of a digital light, than the DLs from high end which are really just moving projectors with a dowser on it.

I'm sure there will be changes to the product lines in the future (maybe no more cristie projectors in the DLs) and some changes to the servers, but personally, I much prefer the Hippo to the axon, and I hope they go more towards that route than towards the axon.