What? To keep your existing license you copy the text of the MIT license, add the statement about requiring a logo and remove the parts about being able to use the code commercially, and add an extra paragraph that has the text you already have: to use commercially you have to sponsor. It’s not about changing your terms, it’s about being clear about what license applies. Hybrid with MIT and other implies that the MIT license somehow applies yet it does not since your “other” invalidates a chunk of what the MIT license allows. Just removing those bits and not calling it MIT is enough.

If that significantly cuts into your time to do other stuff then I don’t know what to say.

> if somebody who is willing to pay approaches me with the same concerns

I’m not concerned about the license per se. It wouldn’t stop me from paying if I wanted to use your software. It’s just that to everyone looking, before even evaluating it, you’re sending a dishonest message, that somehow the MIT license applies when it clearly does not.

I would create a license.txt file that contains a copy of the MIT license text with the commercial use phrasing removed, the need for displaying logo added a second paragraph before the warranty disclaimer stating that you may use the software commercially so long as you sponsor (same text you already have). Then I would link it from the readme with an explanation: proprietary license that is similar to the MIT license except with the conditions of logo and for commercial use requiring sponsorship (existing text more or less). Clear, simple and should take you no more than ten minutes to fix.

My objection is that you are claiming it’s under MIT license and using the MIT licenses name recognition, while applying changes that very clearly make it not MIT license at all.