Kamala just seems to get her powers regardless, even in a setting that it wouldn't make sense, for example, in Zdarsky's Two-in-One run, he had Kamala with powers from that other universe, where Galactus Trilogy had Doom killing Galactus, seems pretty unlikely that the terrigen mist was spread around the Earth in that universe, but we have Kamala there anyways.
I don't really see much of Ditko Osborn in this, because he's just a manipulative guy using Harry like a puppet, that's the characterization he got afterwards, in the Ditko-era, while his interactions with Harry are limited, he does seem to treat Harry better, even if still rude in at least one occasion, pretty sure it's even pointed out by another character that he's a nice father.
Of course, since this story is about Spidey overall, then Zdarsky couldn't use early Osborn's characterization, since "better father Osborn" would change everything about his relationship with Harry.
Either way, Life Story was pretty good, biggest problem with it is that it's short and you need to know Spidey-lore well to know what the hell is going on, also I don't see the point of keeping Gwen-Clone alive and dating Ben, since she didn't show up afterwards, nor was she mentioned, was also odd Zdarsky had Peter and Jessica Jones be dating after MJ moved out, it adds nothing to the story and it only makes it weird how Peter moves on immediately, Peter manipulating Ben by not telling him what was really going on was really off putting... Oh well, good story, but has some issues.