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Yep than Waze will be the closed map system and completely worthless...
Noooo, please no. I like my Waze as it is.
and expect a hell of a lot of people to dump it like a hot potato if this deal goes through.
Waze is a great mapping and GPS application. It would fit quite well into Apple's ecosystem, in its current state. 
It is not a good app for a German Android users anyway, so it would just be another step of retreat for Apple. Retreat to their small eco system in the US (well, maybe Israel, where else is it working fine?).
Apple maps UI + real-time traffic reports would be cool. Still (at the moment) trust Google's map data better, and they're crushing it with transit integration.
Leave Waze the way it is! I use it everyday. 
After what Apple did with Maps, I'm not so sure that they'd be able to maintain Waze as well as the current Waze team...
I hope it doesn't happen, but it makes a lot of sense. 
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