> I always thought part of the point of open source is that the code is auditable
Yes, it's theoretically true but doesn't actually occur in practice - largely because open source rarely sits still long enough for people to actually have the capacity to audit. From my vantage point, that capacity is consumed by addressing known bugs and issues, and the never ending feature adding and adaptation to changing whims of the developer community.
For example, the most recent high profile event w/ xz wasn't due to an audit but a lucky event of someone noticing something weird that caused an audit AFTER the weirdness was noticed. Had nobody noticed the weirdness, it's not likely any auditing would have occurred to notice it.
There is certainly a benefit to open source from transparency that allows such scrutiny when something weird happens. Had that code been closed source, it's very likely nobody would have been able to figure out what was going on nearly as fast.