If a company is based in an "X eyes" nation", but the product is A) self-hosted and B) open source, does it matter that the organization the develops it is based in an "X eyes" nation?
There's also the whole "just because open source allows people to review code doesn't mean that they do" problem, but I don't expect that attack vector to be used by state actors because it would make the beneficiary of the attack too obvious to the public.