The context I'm talking about actually involves another band from right around the same area and time period, and one that was especially close to Page: The Jeff Beck Group.
Their sound is in the same vein as Zeppelin (heavy, bombastic blues) and the album Truth even has a version of “You Shook Me” that sounds compellingly similar to Zeppelin's on first listen, right down to the interaction between the guitar and vocals. The difference is of course that Beck's album debuted at least a year earlier than Zeppelin's. Some sources hint that Jeff Beck might have been a little put out by Page “stealing his sound”, while others seem to indicate that Page was actually involved in some of the Truth recordings during and might have even written the majestic chord progression of “Beck's Bolero”. Others still state that neither Beck nor Page knew the other was recording “You Shook Me” until after each was released.
There is definitely some hearsay involving these two albums, which makes the complete picture hard to see, but the stories are interesting and seem to add to each of their subsequent legends, causing certain people to rally behind one or the other as the true turning point of blues based hard rock, and engage in lengthy arguments as to the true merits (or lack thereof) of each.
Although the similarities are definitely noticeable, I hear a distinct difference between the two albums that actually points towards each guitarist's respective direction. Both are incredible, but Truth is far more R & B flavored with keyboards etc, and also more angular and rough around the edges to my ear, seeming to hint at more progressive things — which would be the direction that Beck would follow.
Led Zeppelin (the album) though, is more pointed towards very grand compositions and harder rock sounds, but still staying somewhat rooted in traditional rock and roll and blues ideas while experimenting. This became the direction they eventually would take. It's as if these two albums form a fork in the road. Page and Beck knew each other for a long time before they played together in the Yardbirds, and came from similar backgrounds, and were part of the same music scene. So the fact that their musical tastes would at least initially develop in parallel makes sense, (Eric Clapton was involved in the same scene too, which could explain why Cream hinted at hard rock and heavy blues as well).