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So a bunch of non-important people quit? Big deal.

the deal is the steering committee is now made up of all Oracle employees, no one from the community, a BIG deal for FOSS

Probably also a big deal for all the Oracle (Sun) employees who used to be working on a vital community project. Morale matters.

So a bunch of project leads are not important? You do realize it is more common for software projects to be defined by the quality of their leads?