Very significant initiative. The fact it’s under the Apache licence makes it highly reusable, and the diversity of the participants combined with open governance gives confidence it can evolve freely and openly. Most interesting is the NASA comment that their work was a response to Eucalyptus choosing to decline input from NASA because it would harm their (open core) business model.
Monty Widenius makes a good attempt to define an “open source company” in the face of the dilution of the term at the hands of besuited open core corporations.
At the end of the Community Leadership Summit here in Portland people arriving for OSCON started to show up. They included one of the guys behind Rackspace’s announcement of OpenStack that was made today. He gave me a full rundown of both the news and the history behind it. The history seems to suggest it was the open core business model that lead to the creation of OpenStack. Read more on ComputerWorldUK.