binaries are distributed only to those on the active contract, if you lose the contract you lose the binaries and thus the source. Of course, if you made a local backup you can still use everything for your own benefits
This is GPL code. You can not only use both the binaries and source "for your own benefits",you can also share both forever with whomever you want. There is no revoking the GPL, nor taking the binaries or source back.
Clearly Red Hats thread of cancelling the support contract is intended to discourage source distribution. The point of the GPL is to ensure source distribution is possible. These two goals are inherently opposed.
I want to give Red Hat the benefit of the doubt here until we see them acting otherwise in practice.