We already have a community-based project to lead the effort.
They refused to work with "The Open Document Foundation" and made the key leaders step down from their community board so where exactly does this leave them?
Most distros have already moved or are moving to Libre Office.
Is the name recognition of OpenOffice.org all that's left?
Or just assign copyright on OpenOffice.org to the Open Document Foundation. This announcement smacks to me of "Embrace, Extend, Extinguish" but I'm not entirely sure why they would want to put resources into any of those things.
I guess they finally noticed that LibreOffice is quickly overtaking OpenOffice.org and that OpenOffice.org won't get them any money. Of course it does not make any difference if Oracle gives this project to the community: The _only_ interesting thing about OpenOffice.org is the trademark, for everything else there's LibreOffice.