FreeCAD exists and is quite useful for 3D parts.
But it will eventually be good enough. For some things it already is.
KiCAD gave me hope. It is possible to have professional grade open source CAD software.
But it's definitely behind the curve in terms of how friendly and discoverable the user interface is. It's a powerful modeler, but I'm not sure that it's in a good state to be used by a large engineering team on multiple large projects. In particular, a lot of the PDM options for FreeCAD seem sort of questionable; for better or worse, a lot of organizations are going to need it to interface with their current data management software. I haven't seen the effort to do that yet.