Red Hat's Open Source only approach does mean that none of these projects can be closed down, though: AFAIK, IBM are acquiring people and a brand, but no significant proprietary IP. If higher-ups at IBM turn out to be as clueless as Oracle, then key engineers will just walk and continue working on those projects elsewhere.
Where elsewhere? The landscape of options to be paid for your OSS has just become a barren field.
Yes, OSS as a concept can survive only on gratis work. However I'm not sure the portfolio of projects supported largely by Red Hat maintainers could. If maintainers are forced to start walking as they did with Oracle I expect to see quite a few projects fall into disrepair.
I guess they can start a new company and keep working on the same products. The community would have to change to their new repo's but other than that RedHat could get a new start, with a different name.
