Yes, I agree that the article spends waay too much print on the lack of openness, and too little on the fact that W3W is just a bad idea that solves nothing.
So, yes, if that was his only problem, he should definitely organize an open version. (it'd just be a bit less pointless)
BTW, did you see this? Somebody posted it above and it is hilarious - especially the Vision, Facts, etc pages...
http://www.what3fucks.com/