There's certainly something lost here, I won't deny that.
But glibc, and huge other parts of the FOSS ecosystem, has been a corporate project for years. Maintenance comes from stodgy companies like Red Hat who install glibc on the sort of extremely stodgy companies who are Red Hat customers.
And for those of us whose day jobs involve using glibc and reading its documentation, we deserve the benefits of free software as much as everyone else. If it is an ethical imperative (as RMS says!) for all software to be free and for proprietary software to die, it follows that the primary battleground is the servers of soulless, boring corporations. Your hobbyist laptop is important, too, because everyone deserves free software. But if free software weren't around, you would have installed a pirated copy of Windows with a keygen with some hentai as its background image and enjoyed the non-HR-compliance of the process, and Microsoft would have been quite okay with it because you would be locked into their proprietary software.
If free software is an ethical imperative - or even if it's not, but even if open source is simply a better way to develop software - then everyone who wants a job in software engineering and is qualified for it should be able to have a job in writing and maintaining FOSS. Human society has determined that if we want everyone to participate in an activity, things work better if everyone agrees to uphold a few norms. They don't have to be the same norms as boring corporations uphold (and you can quite easily argue that the norms of boring corporations aren't that good, actually, at making sure everyone is welcome to participate on equal terms). But the fact that we open our shared infrastructural work to accountability and public judgment is sort of how civilization works.
Hobbyist projects are still as possible as ever. Twenty years ago, you wouldn't have been able to get inappropriate jokes in the technical documentation for Solaris libc, or into MSDN, or whatever, but you could work on some upstart free software project with your friends and do whatever you want. You can still do that. If you want to be the young, upstart libc with some off-color political jokes that's being an alternative to the boring corporate libc, more power to you. Not everyone will participate, but that's what you want. Meanwhile, the libc whose goal in life was to displace the corporate libcs has won - and needs to step into its role.