It’s a understandable move, it’s the same reason as Elastic. AWS and other hosting companies ate their lunch, of course they want a piece of the pie to stay alive.
Even if there was no AWS product for managed Redis, how many businesses would bother paying Redis Labs and introducing extra latency to their cache server if they could easily set up their own instance on AWS (in EC2/ECS)? Configuring Redis is not rocket science.
That’s my take away from this anyway!