I commented on the same shot on Flickr, I think the agency looking after Olympus' account made a bad call on this creative hopefully the creative and account people who came up with the idea get a good talk to. Trashing the competitor in this case one of the leaders in the Camera business is not a good way for Olympus to sell their own product.
This is a shame because I am a fan of their OM-1's, it saddens me that a company like Olympus would allow their Canadian Marketing department to go ahead with this campaign. I think the other billboard is of a grown man crying with the tag line that only Olympus is 100% digital. News to me but I can't find a film door on my friend's Canon 5D so making such a claim is playing fast and loose as all the cameras (save for some canon, two nikon bodies, Leica MP, M7, R9, Voightlander and Zeiss Ikon, some large format and I think Hassleblad) are digital capture and data transfer through a USB port.
As Marketing Communications/PR guy I don't feel comfortable with Olympus' marketing direction.