> I doubt very very seriously that there is overlap between the audience who runs Vaultwarden and those who want to start up a company that sells Vaultwarden as its backend to compete with Bitwarden

Company selling password managment as a service might use the code to give their customers migration path to their service

Now that they are venture funded, Bitwarden will try to restrict competition as much as they can. It's a familiar playbook. I wouldn't be surprised if Bitwarden has applied pressure behind the scenes on Vaultwarden to move in this direction, since the AGPLv3 license will make competition less likely (and VW shortsightedly even says as much). They're learning from Chrome/Chromium and others.