Ask HN: What would happen if all software was open-sourced?

If all software in the world today was open-sourced under the GPL3 License (or similar), what would the consequences be?

Would the software industry thrive? Or collapse?

My instincts are that; developed countries would lose their advantage over developing countries, right?

Personally, I'm not a big fan of the GPL3 license, but it's able to maintain the commercial interests of the software, as WordPress demonstrates.