At first I thought it was another camera, but given the way it projects light and actually tries to capture 3D space with 2 cameras, I have to give it some respect.
As far as using no controller, I can't think of a better way than to try to emulate the human sense of spacial awareness. Of course, the Wii has superior motion sensing via handheld devices. The Wii lacks in how the camera works due to it relying on a stationary IR light source, while the Kinect processes image data from a stationary point and sees the entire room. Combine the Accelerometers and Gyros of the Wii Remote with the stereoscopic image capture of the Kinect and it'd be great.
But this is just hardware talk. All this means nothing if developers just throw wagglin stuff at consumers.
PS: PS Move is a little of both, fails to be superior in any way, as a sum of its parts, or the parts themselves.