I find it strange. They openly advertise it being open source, yet have no way as of yet to access the source code. Even if they don't want people playing with their instance yet, it would be nice if I could host an instance myself (or at least glance at the code). This is especially egregious as one would hope open source to mean not just availability of source, but an open development model (involving the community in important decisions), which this sets a bad tone for.
The ideology itself seems to be a series of blind nuances, without commitment. They profess to want to balance allowing free speech and having a safe space, yet they don't say where they fall on the spectrum, what criteria they use to determine something being over the line, etc. It's very easy to say you care about these sorts of things, much harder to do so in practice.