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Do you think they are inherently less powerful? I'd imagined that closed labs have a head start / more funding so the open labs are playing catch-up.

Is there a world where open source models end up at the frontier, or do you think there are structural/first-principles reasons why this won't happen?

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If you're targeting widespread local/on prem deployment which is what many open weight models are doing, that inherently limits your scale in terms of total model weights/inference-time compute compared to running in a few centralized datacenters. A centralized model will always be able to leverage a larger scale of deployment, placing it much closer to the genuine "frontier".

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