Oracle got a neat offering for implementing SOA, but some parts still need some serious improvement. Its basically missing some aspects of the top layers in a SOA, like proper support for BPM (no, ARIS wont work out...) and SOA governance. So i guess thats what they are really after when bidding for BEA.
Taking a look at Oracles current strategic focus, id say they rather go for Aqualogic than Weblogic. It took its time but today OAS/OC4J is doing its job quite well - still not the best AS out there, but not as crappy as it used to be. As well the current JVM are fast enough for not needing JRockit.