Motivations are everything. It is also not a fair world. Some projects end up with a glut of support while others (with equal potential) end up with nearly nothing.
If you are a software developer trying to build wealth or pay for large college tuitions, you would be best to maximize your income by going to a FAANG company or similar and just investing fully there until your needs are met. There is a substrategy that aligns well with this, which is the FIRE movement to use that wealth to build perpetual wealth through a boglehead-like investing strategy. If you have earned enough that you won’t spend the money on your next paycheck, you’re working for free (see the book Die With Zero).
If you are trying to maximize your fulfillment from a project, then partially open source would mean you might be able to force yourself into the pilot seat of a project, share it with everyone, and gain fellow contributors while keeping greedy companies from being able to replicate your results. Very few projects would be able to give you long lasting profits from a project like this. They do exist (and without thinking too hard, I would say V1 is in this category).
If you want your project to have the largest chance to survive, in some form, at all costs: Fully open source and a lot of altruism is an effective strategy. If you release something with MIT or even GPL, then a commercial company can decide to pick up the reigns and bring your project further than you were able to. You can also get malicious contributors that would push your project in a direction you’re not comfortable with. But the contributions that will endure are the ones the users will pick up. Sandify has never made a profit, but Sysiphus has pulled it into their user app (with my permission, but they didn’t need it). That project will continue even if I get hit by a bus today. Bob makes a ton of contributions to sandify and he wants my review and approval. But if he wanted to make Bobify and push stuff I don’t approve of, he can. If people prefer that, then I’m out. I didn’t choose MIT for my benefit. I chose it for the project’s benefit.
There are some good examples of projects that are open source, and make money. But honestly, they are more like winning the lottery or having a successful startup → IPO. It is rare. Very rare. Home Assistant is a really good example. The main software is open source, but there is a component that depends on a cloud server and that component costs real money to operate. HA offers a subscription to the cloud component and they make enough profit from that to pay a couple of dedicated developers to stay and perform maintenance and new features. They also gain a TON of free support for a lot of hardware integrations. There is no chance a for profit company like Amazon could do the workload of all HA development for the amount that it pulls in from subscriptions. For every one HA project there are 100k projects without any traction.
Another great example is FluidNC. Bart had already made a couple of huge contributions to CNC. He made grbl_esp because he loved it and he started making boards because no one else would. But he chose open source because he didn’t want to do it alone. His boards and the support from board manufacturers pay for his time and Mitch’s now and the project has substantial life. It wasn’t always clear that would work. I’m sure at some point he was working 40+ hour weeks and selling 2 boards per month. He would have made a lot more money working at a startup if he had known he was going to have a successful business. He’s not doing it for the money. But the money plays an important role in keeping the business motivated.
Some other huge projects like ubuntu, mozilla or redhat make money by either selling support or including google as the default search engine and charging for that. Blender is another weird case that is huge because it is the industry standard and businesses that depend on it know to pay for it. These are super rare and operate more as a business that has to be open source because of rarly legal decisions.
There are many big open source projects that don’t make much or any money. FreeCAD, for example. There are a ton of interested users and developers working for praise and somehow it keeps going. These usually depend on contributors being interested and having the luxury to donate time to a project they love. Slic3r was the gold standard for a long time. PrusaSlicer, BambuStudio, QidiStudio, OrcaSlicer are all that project and they are open source because that original project was loved and the early decision was to force all derivatives to be open.
I don’t hate on anyone choosing any path. Christian making Estlcam and Estlcam firmware closed source doesn’t bother me at all. But if kiri:moto was just as useful, I would definitely praise Stewart much more for his generous devotion to the project. You have to appreciate it when someone donates their time for the love of a project. You can also appreciate a single developer creating something high quality and not wanting to share the source. It isn’t a war, just a difference in motivation.
I do get bothered if a company like bambu or creality sucks in open source and tries to close up any changes to it. That’s not fair or legal. I wish more companies learned about what happened to linksys/openwrt and would respect and include the community from the start.