Given that and the fact that Elastic is the primary sponsor of the ElasticSearch open source project, it is obvious that this action actually is in the best interest of open source, as it allows Elastic to continue sponsoring ElasticSearch.
Most of the criticism of Elastic in this thread seems to be predicated on the purist notion that proprietary software is the antithesis of open source software. That's obviously untrue, and we really need to disillusion ourselves of this.