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Big companies which need support and security patches after 6 months can get it from Oracle. Others can update to new OpenJDK after 6 months.

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As far as I understand, Red Hat plans to take the lead on supporting a LTS version of OpenJDK 8 after Oracle steps down, with the intent to eventually do the same with 11. Various organizations such as AdoptOpenJDK will then be making releases off that.

In other words: OpenJDK is like Fedora, and OracleJDK is like RHEL?

Yes that is pretty much it.

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