Although Delve personalizes content with relevance and social distance, I don't see overlap with Delve but more as a way to organize the best of breed M365 solutions integrated into Teams to enhance, organize and deliver communications, content and other content relevant to a user. One to many communications, one to team, team to team and one to one communications in one UI. I like to think of it as the content command center much like how we use Teams today to centralize content and collaboration but now with global navigation bars, enhanced integration with Yammer and SPO, targeted communications, prioritized views and more.
https://docs.microsoft.com/en-us/SharePoint/viva-connections#step-by-step-guide-to-setting-up-viva-connections-desktop