I can see almost no resemblance between the sites returned in the results of that query and the SERPS for the standard query (no quotes, intitles or inanchors).
You shouldn't expect these results to look the same as the regular SERPs, but what you're really asking for is the reason why we use these search operators:
1. The first thing you would do in optimizing a page is include the search term in the page title. Yes? The intitle search tells you how many pages have that done. The intitle search doesn't tell you "who" is your toughest competition, but it gives you a rough idea of how many are at least trying to compete. Some will be "accidental" competitors.
2. Another thing you'll do, if you're really optimizing a page to target a specific phrase, is use that search term in the text of hyperlinks pointing to that page, both on your site and off site. The inanchor search tells you how many pages have the search term in links pointing to the page. This doesn't tell you who is your toughest competition, but it gives you a rough idea of how much competition exists.
3. Combining the two search operators gives you a pretty good total number of competing pages. To be more accurate I should say that it's more like an upper bound on the range of possible numbers, since some pages will possess both properties (intitle and inanchor) and still not really be competitors.
When you apply this to your keyword research, along with relevance and weighted popularity, SEO starts to look a lot more manageable.