Well, when I say "integrated with ST", I mean they will be integrated with each other.
That way, I can be a power user of Sublime Merge while only using ST occasionally (because I'm more of a vim user), or vice versa (because I'm more of a magit user). Or you can be a power user of both.
I think it makes sense in this case to have two applications. I personally am an avid user of ST, but I generally prefer the command line for git. However, there are some things that it's nice to have a GUI for when git'ing, so this is ideal for me.