I quick look at the Wikipedia page [1] reveals there is and I always assumed it all kind of works - I know WMI, CMI and the related stuff and it is not completely cooked up by Microsoft alone and therefore I always assumed that this is a standard solution and I could just point a WMI console to a Linux machine if I wanted to. Now I am not sure if I should like this project because it does something useful or dislike it because it is another incompatible solution (and I lean a bit towards a One True Way philosophy).
I think we could just as easily point to SNMP, and the same reasons why that isn't a good argument apply here. They differ in where their priorities lay and what they aspect of management they emphasize.
In this case, it's about easily correlating data to pull more complex information out of specific system data sets.
[1] http://en.wikipedia.org/wiki/Web-Based_Enterprise_Management...