Turns out opensource.org disagrees with them. But it doesn't seem like FSF (or rather, RMS, and the FSF by proxy) agrees[1].
In the end, I don't really have a horse in this race. I just write code. I don't care how my company's legal department chooses to protect it.
Frankly, I find it kind of tiresome that there's such a big argument over this stuff.
[1]: https://www.gnu.org/philosophy/open-source-misses-the-point....