Sounds good to me. This is clearly targeted at big cloud providers who have been free-riding for years on the work of open source projects.
Yet now Elastic isn't content with competing in the market with its own managed offering (ironic because their offering is way better than AWS' anyway). Instead, they want to call themselves open source while switching to a proprietary license. Shameful.
I don't care about not being allowed to compete directly with Elastic using their own product against them.