I generally agree with your point. Over the years of being responsible for technology stack choices, I've come to apply one rule of thumb on OSS projects: is the project a core competency of the company behind it or not. For example, Github might open source their language detection library or Shopify might open source some frontend development project. These are not core competencies of Github or Shopify. Their business is somewhere else.

However, if I start a business and open source my core competency, with or without VC money, I will have to turn a profit or die, which leads to such outcomes, from MinIO to Hashicorp.