NXT can also offer the functionality of both MS and Eth in one package, which is a good thing. Saves time/money on integration hassles.
So: answering the OPs question: MS and Eth are not really in direct competition with each other, but NXT is in the race and ahead at this moment.
Delusional
This is the funniest shit I've read all year. NXT is a joke. It isn't anything. It isn't bitcoin with built in programming language (like Ethereum) and it isn't a decentralized storage and computational platform. NXT is a bullshit cryptocurrency which only has the advantage that it doesn't burn too much electricity like bitcoin.
NXT is garbage. Nobody will bother with their nonsense. Why do you think MaidSafe raised all that money in ten minutes? Because it is a real system. Not sure if it will work, but it isn't just a bunch of nonsense like NXT.
NXT is good marketing with nothing under the hood. We don't need another bitcoin, the bitcoin we have is already too much of a pain in the ass. NXT will never replace bitcoin. Stop being a fool.