You are saying that like it is a bad thing. As far as I'm concerned, Valkey is a very healthy open source project with a wide range of companies and people contributing code to it and sponsoring development. None of these companies wield exclusive control over the project. And we all benefit from their work. And if I want, I can take their work and create a commercial product and try to sell it or make money of it. What's not to like there?
I don't get the anti-capitalist stance here. If you want to contribute to redis, Redis Inc. will require you to sign a contributor license agreement: https://github.com/redis/redis/blob/unstable/CONTRIBUTING.md
They'll be happy to take your work but the right to exploit it commercially is exclusive to them. That agreement (should you choose to sign it) gives them the right to take your contributions and re-license them under a proprietary license, or any license of their choosing. There's also no commitment that the code base will stay AGPL. That agreement gives them the right to do whatever. Agreements like that are very common with AGPL because it doesn't make much commercial sense to use that license without one.
> Put in anti-hyperscaler clauses into your licenses to preserve your ability to make money and be sustainable.
.. and permanently alienate the rest of the open source community from providing contributions to your project. That raises the question why you are open sourcing at all? Why would you cripple a community like that? Permissive licenses are successful because, well, they are permissive. It's why there are a lot of decades old OSS projects where the original developers and companies have long moved on, or in some cases, passed away. It doesn't matter. Because they have diverse communities that survive such things.