I’m more interested in https://rockylinux.org/ from the former centos people.
It also seems like CloudLinux has already been doing something like this internally so it shouldn't be an issue to get the project up and going. It will be interesting to see how they do vs Rocky.
If one entity throws 1M/yr onto it, they could suddenly stop and the contributors go away and no other contributors can take over as they never were equals ...
(And yes, it's more complicated, first case can also lose key contributors who have keys etc.)