Ask HN: How could one monetize an open source hardware project?

What's an open source hardware project, exactly? I'm not being dense, it just has a buzzwordy feel and I'd love some more precise definitions or examples.

I'd imagine one way would be to sell kits or even populated boards. While open source hardware projects are great, most people aren't going to want to go through the hassle of ordering a run of PCBs and sourcing all the required components themselves.

Look at how Arduino is doing it:

- Market / Teach

- Innovate / Extend

- Ensure better quality

Same way you monetize anything: it depends.