What Redis did by embracing a bad license shouldn't be applauded either. But the problem is that there isn't a great copyleft license that prevents embrace, extend & extinguish of great cloud projects. EUPL might've been it, and this weird clause just kills what would have made it perfect.
That is, to be able to be hosted by someone else is a necessary factor in widespread adoption and success.
The open source ethos is to give code that you are allowed to do as you wish with, including forking. The idea that there should only be one canonical project is... just wrong.
The open source ethos is not to give code to do as you wish with. It's to ensure users have control over the software and are not controlled by it.
It's not about blocking competition, it's about levelling the playing field. You are supporting the cause of trillion dollar megacorporations in their campaign of capitalizing on open source software over the backs of passionate trailblazers.
The maintainers of Valkey are being tricked by these companies to continue to develop for a project that can be easily exploited.