Whoops, looks like you responded just after I deleted my comment having seen your other. Thanks! Was searching for that link without success. It's awesome that they wrote most in C++ though!
Since most routing software is proprietary, I think it would be good to combat it by using a strong copyleft on the Valhalla components. GPLv3+ for client software and AGPLv3+ for server software would be awesome.
You make a great point about engineering. The interaction of algorithms/techniques and the database, as well as computational infrastructure and UI/UX, are all significant areas of differentiation. I still disagree about algorithms themselves as a differentiator -- everyone has access to excellent shortest path algorithms already. Other geospatial optimizations (scheduling, circuits, flows, etc) are a different story; as represented by the many scientific disciplines that pursue those problems: operations research, graph theory, network science, location science, etc.
For speedy street routing, the Open Source Routing Machine: http://project-osrm.org/ Like Google's proprietary routing engine, it leverages the scale of local and regional travel (via contraction hierarchies, arterial travel is suited for precomputed cacheing); result: the system can be tuned to give near instantaneous results. OSRM had been led by Dennis Luxen of Mapbox, though he just moved to Apple. The OP (Mapzen's Valhalla) appears to have a similar approach as OSRM. Good libraries for other scenarios exist; e.g., cycling and multimodal planning -- see: http://wiki.openstreetmap.org/wiki/Routing and OpenTripPlanner https://github.com/opentripplanner/OpenTripPlanner