But here, all is right, I don't see where anyone could base any complaint. Except for being entitled to instruct others about the license they should use for their own work, that is. I'd say they are walking the line with insisting on how "open" this solution is, but it doesn't really cross any line.
They are missing a very strong 4th line in "How is this different than OpenStack?" [1], though: OpenStack is Apache 2.0, aka. proper OSS, thus you can use or host it in whatever way you want, even use it to create an IaaS if you wanted. With UbiCloud, I didn't read the license, but probably not.
[1]: https://github.com/ubicloud/ubicloud#how-is-this-different-t...
EDIT: turns out they say "open source" not in the linked github repo, but in the project's homepage. Back to square one then: they are lying.