The results of my Google search: the owner used to have a similar shop in Port Washington, NY, which he closed in 2013. He has been on various Food Network shows including one where his weight loss journey was covered: 500 lbs to 400 lbs. And he has been in top positions in more than one very high-end hotel in NYC. I had the same thought: I don't need this so nearby! But since the weight loss journey, I would hope he might include some less-rich offerings on his menu.
I think Lety's is a neighborhood institution with a loyal, longtime clientele, and would not be affected by this. And E77 is more like a coffeehouse in that its wine/beer offerings are a big draw, and it runs various arts events--live music at night, art talks, poetry readings, etc. This new place will be a breakfast and lunch place--E77 is busy all day but especially at night, for the events and the fact that it acts as a local place to have some beer/wine and relax--which is a function for which it has little competition around here, except for the Queensboro, which is far enough away that I don't think they compete too much for that kind of business.