Official governance vs the effective governance is the real crux of this issue. Immediately starting from the lead developers separated by companies already puts a deep corporate interest spin on the project. Choosing to do a lot of the initial work in secret and then disclosing is also a pretty big data point.
I think this is going to be an uphill battle for them and I hope they win it but I'll be skeptical unless if I start seeing radical (for google) transparency basically immediately.
Also worth pointing out that the language is not immediately worthless even if they fail or only partially succeed in this endeavor!!