Not to mention no corporation would touch it with a 10ft pole
I've used plenty of closed source tools in the past... and they've always bit me in the ass at some point. I'd rather roll/adapt my own, or use something with a permissive license I don't have to worry about. I participate in the broader community, and prefer ISC/MIT licensing for most of what I do and use.
If it's a given database server, sure, AGPL is fine as long as the client library is permissive.
GPL, done well, fosters community and contributions. In five years, everything will be "legacy code" and it won't be nice maintaining something with no community behind it. Permissive licenses only work when backed by giants like Facebook/Google/Apple. Even then, they can go Angular 1 on you.
Dead stack with no community is a forced rewrite. You can't just sit on it, because every new feature has to be done from scratch by yourself. That's not a lot of fun in my experience.
If the commercial entity behind a dual-licensed project fails, will those that bought a commercial version contribute to its survival? Can they without licensing issues?
And preact seems simple enough that if there weren't X other JS frameworks, or if there is a specific niche only it fills, a lot of projects would try to clone it with a less restrictive license, probably win the mindshare race, and be the ones with a community that contributes, regardless of technical merit.
I might be wrong, I might be missing some shining counter-example, but I just don't see it happening in that space, as much as there are arguments why it would be in everybodies interest to make it succeed.