Hi, I am an Eclipse Foundation committer, but I am not committing to the IDE itself.
You don't have to sign the CLA (contributor license agreement) if you want to report a bug, but you have if you want to contribute code, even a small patch for a bug you found. That's a legal requirement to protect the Foundation from contributions that may copy/paste proprietary code and to ensure that you will not in the future change your mind and make claims for your contributions. It's not peculiar to Eclipse Foundation, many open source vendors require contributors to sign a CLA [1]
My understanding is that Theia is currently more of a platform than a complete IDE. It is meant to be usable for building cloud-based IDEs, and you can test a distribution on your workstation, but being it a client/server architecture, you currently have to run a docker container locally to test Theia (or at least this was the case in Q3 2023). They are now focusing on the user interface and plug-in architecture of Theia (which is already capable of running VSCode extension). IMHO, for Theia to become really meaningful the server-side part needs to be improved: currently Theia reuses Eclipse JDT and other plug-ins on the back-end, which is fine for a desktop app, but less convenient for a client/server IDE as you will need a separate server-side container running the Eclipse plug-ins for every active user running the Web-based Theia GUI.
With respect to Eclipse itself, it has dramatically improved over the last few years, since the Foundation started making a release every 3 months. You may like the UI or not, but on my workstation it's now much faster and lighter than it used to be, and it's also faster and lighter than IntelliJ. To me the main issue with Eclipse is that it relies on P2 for plug-in distribution, which makes installing Eclipse add-ons a painful process.
[1] https://en.wikipedia.org/wiki/Contributor_License_Agreement