I was just a free ES user, and feel fine with all of this. I don't see a bait and switch, I see a fundamentally changed market compared to 10 years ago where a business model that was perfectly reasonable is now very precarious in the face of the major cloud vendors, and a desperation move to protect their business, not some grand cynical plan.
If I needed to submit a patch I'm not gonna care about the project being "truly" open source vs just source-available.
But the more these "allowed" but kinda-dirty-feeling things happen, the less likely I am to choose a "true" open source license for any projects I may start...