That already exists: it's called Collabora Office (https://www.collaboraoffice.com/solutions/collabora-office/) and made by one of the largest contributing firms behind LO (Collabora).
They also actively pushed out their code in usable format I to the main codebase. And they did it frequently. They also got access to documents for testing and performance testing others didn't have access to, so the stuff they pushed out actively helped the project, but because they had support contracts they were able to backport to versions the main developers wouldn't consider.