Yes, many but not all LR edits can be transferred from the LR catalog to Capture One. "Capture One Pro will import key metadata like Rating, Color Label, Keywords and IPTC data and some basic image editing like White Balance, Exposure and Saturation."
Someone really needs to develop a product that can import it all. You mentioned WordPerfect and Lotus 123 losing their dominance. It's largely because Microsoft made it as easy as possible to move to Word and Excel.