That being said, I don't expect this attempt to work and I fully believe that a fork is going to be inevitable. I also think a fork is an amazing opportunity to standardize the language and prioritize the features developers want.
It isn't just about the license, but the way that Hashicorp has maintained the Terraform project. The github insights show that they don't have nearly as many people working on it as I would expect, and most of them are split into also working on Terraform Cloud. At the same time they don't work with the community that well- there are open issues and pull requests that just get ignored as Hashicorp clearly doesn't see value in open source contributors. This isn't just a Terraform issue either- my company had to move off of nomad due to the lack of development and support (as well as broken features).
I have strong concerns about the future of these projects in general beyond just the licensing. An open foundation that had multiple companies involved would by definition need to find a way for those people to collaborate together, and once they do that it makes it easier for them to invite community collaboration. So while I do appreciate that it is a drastic step, I think it's one that would also be far better for the ecosystem and project as a whole.
That said, maybe this is the wake up call hashicorp needs to fix these problems. If you provide five FTEs that basically doubles the size of their Terraform development team (they have more people working on it than five, but those people are split into other projects), and once they start working with other groups maybe they'll work with the community more as well. I'm not holding my breath though.
