Open source always depended on a viable business model (of one or many companies) that can sustain not just the release, but also an ongoing maintenance of the standard.
Take this project for instance. If one day their choice is to forgo all future profits, or to close the source to continue operating, it's very likely they will close the source to continue operating, rather than forgoing profits. We've seen it happen enough to be wary from the project structure alone.
To see the actual standards, you can search for "standard" on https://defacto2.net/search/file
There's a free book that covers that topic:
https://punctumbooks.com/titles/warez-the-infrastructure-and...
It's a great counterexample to "corporate money and influence are required to develop, maintain, and enforce standards", because it shows that it sprang up on its own in the absence of money and has persisted for decades.