This is almost completely wrong. When peope who work in AI refer to the "model", they are generally referring to the weights. It is the weights which are the most important determinant of how the model performs, and it is the weights that require the most resources to develop. Associated code and other assets are also important, but they not the core asset. The intuitive sense of open sourcing a model therefore typically means releasing the weights under an open licence (ideally along with the training and inference code, data, training info, etc).