There is this talented young guy from Thailand called Anh Nguyen, from the class of GSoC 2009 which Joomla! team has quite timely picked keeping in view the future of this great open source CMS.
So, Anh is working on J! Mint and I have been closely following the development through various sources, like this Webinar and the Magento Forums.
Some of the factors do look challenging in these two vastly different open source leading softwares. However, Anh’s work is nothing but promising there is little competition from a developer in Holland. Well, looks like we gonna be benfitting end of the day.
Looking forward to more updates on all the fronts, maybe a BETA release for us to test. :)