At first, the phrase "my API is my Product" seems misleading. An API is a way to deliver a product, rather than the product itself, right? The term designates a "set of programming instructions designed to access an app." Period. We're talking about a means, rather than an end. That's why there are so many different products relying on APIs: Twilio for phone, Mailjet for email, Google Maps for maps, etc.
Anyone who lives in even a smaller city knows the importance of neighborhoods. Portland (where I live), for example, is really more like a collection of many connected small towns. Each has its own handful of coffee shops and restaurants. The people behind GeoReach API (our GeoReach API profile) understand this. The API provides neighborhood boundaries, along with local content.
If you're looking for a traffic data web service, you probably have not been able to find one for free. Now mapping pioneer MapQuest is beta testing a service it says provides "real time traffic information related to incidents, markets and flow."