I really hope it's not true, but many clues suggest it might be.
I like the concept of open core with a very liberal license. Perhaps there should be a special "MIT-X" (an example, it would be certainly not compatible) license with a clause borrowed from that of Llama2 for large organizations, as Additional Commercial Terms [0].
"2. Additional Commercial Terms. If, on the Llama 2 version release date, the monthly active users of the products or services made available by or for Licensee, or Licensee’s affiliates, is greater than 700 million monthly active users in the preceding calendar month, you must request a license from Meta, which Meta may grant to you in its sole discretion, and you are not authorized to exercise any of the rights under this Agreement unless or until Meta otherwise expressly grants you such rights."
That doesn't mean it isn't worth exploring but lacking a major piece of functionality means it explicitly can't be "dropped in" to replace redis.