2) We've taken Venture Capital funding in order to get ramped up much faster, so we can do all those great things
3) Because we didn't ramp up as fast as the Venture Capital funding wanted, we're changing our direction.
4) We're selling to a big company for billions of dollars who will either ash can our work entirely or totally ignore our initial mission.
Founders like to pretend they didn't break their promises when their VC funders or a takeover totally changes their product in step 3 or 4. But they broke their promises in step 2, the second they took Venture Capital funding. VC is investing a small amount in many companies expecting massive payout from one of them. The end goal is to go public or sell to a large company. Either means giving up control, which means you've agreed to give up control as soon as you take VC funding. A company can no longer be trusted to do what's in the best interest of their customers as soon as they a) take VC funding, b) go public, or c) get sold. No matter what promises they've made.
Point is, don't jump from Figma to PenPot thinking everything will be better, they will go the same route within 3 years if they're successful. It's nice that it is open source, but at some point it will not be open source, or will have significant changes for a professional paid version. Open Source is only part of the equation, it also needs either a community or consistent company support, and that's not guaranteed once VC gets involved.