Microsoft had a competing proposal to WebRTC called CU-RTC-Web which, as far as I understand it, proposed to get rid of the Session Description Protocol (which is text-based and thus difficult to parse/edit) and provide lower-level APIs instead (details here: http://www.tokbox.com/blog/what-the-cu-rtc-web-vs-webrtc-deb...).
I've just started reading up on ObjectRTC but I believe it plans to offer an API to replace SDP too and Microsoft has moved to it since it's similar to their CU-RTC-Web proposal. All in all, it looks like this will delay the adoption of WebRTC everywhere but will be for the best in terms of API and developer experience in the end.