They're more or less the same thing. Sony tried to one up them by having two wands and the eye Toy, but that means instead of the Wii's one accessory per person you have to have two wands per person and one Eyetoy for everybody.
Also, the WM+ is coming out in a month or two while the PS Wands have more than a year and nothing but tech demo's that the WM+ is already doing in Wii Sports Resort for the most part.
It is blatantly obvious that Sony wants to cash in on Nintendo's parade (which there's nothing wrong with) and they are still in *very* early stages of the wands. They don't even have the final look for them yet and the people demoing it didn't even have time to learn their own tech demos.
If this was happened 1-2 years ago, maybe or if they actually had a game to show off, maybe, or if it was coming out next month, maybe, but right now it's just too little too late.
