I used to make a bigger deal about this, but now I think that whether something calls itself Open Source is less relevant than if bait and switches are being done.
Teasing a release on X is less bothersome than what Matrix is doing by relicensing from Apache to AGPL and making what was billed as a vendor neutral communication platform not so vendor neutral. The people working at Element certainly don't want to use Matrix/Element under the AGPL, so why should they expect earlier users and members of their community like me to want to use it under the AGPL?
There was a time when saying Open Source meant something by itself. Now you have to include details like the license, what exactly is under the license, and the leadership.