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Instead of coming up with a new project, why just they do not provide a community edition for each of their products? Currently they provide a CE edition for PyCharm only?

I remember I loved the initial version of Goland a lot but found out it is not free and expired after a while, I switched back to VSCode and did not regret at all

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"Instead of trying to innovate, why don't they just give out their existing products for free to customers that aren't willing to pay?"

Jetbrains make good products. And it's great that they're trying to explore the potential for a more lightweight editor based on their technology.

"Currently they provide a CE edition for PyCharm only?"

If I'm not mistaken, I think they have a CE edition of IntelliJ (java) too.

Yes, both are Apache 2 licensed: https://github.com/JetBrains/intellij-community#readme (pycharm is in the "python" subdirectory). It used to be painless to build them both, but the recently doubled down on jps and now it's hit-or-miss and a ton more complicated, but I can attest it is possible

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