To everyone chanting "Embrace, Extend, Extinguish", I'd like to remind you that Node proper was a golden egg sitting under Joyent's goose. When Joyent decided they didn't want to embrace anymore, the community took the extinguisher out of their hands. Granted, Microsoft is in a more similar position to Google than to Joyent, but the point of the argument is that the community has driven the language and the runtime forward, not the corporation backing it.
Unlike most of Microsoft's other EEE attempts, this time they're putting their code with their mouths are and putting it all up under MIT. There's little you can do to get more open and honest than that. If the community doesn't like the direction MS is taking Chakra, they're free to take it in a new direction. Hopefully it doesn't come to that, but it's an option.