Price feeds are a critical risk for projects that rely on price data to enforce the rules of the protocol; this includes Compound and most DeFi projects.
This would be the first deployment of the Open Price Feed, which any other project could piggyback on to use any of the prices included, such as Coinbase or OKEx.
This proposed implementation is designed to minimize the risk of relying on Coinbase (either due to a technical, or malicious error on their part), which is already “low” risk in my opinion, and present a path for the Compound community to add more price inputs over time, without ever relying on our team.
Alternative solutions like Chainlink present their own risks; technical risks (whether or not their contracts have been audited), centralization risks (who can edit/replace the contracts, e.g. a centralized company), etc.