Hey @vishnumohandas. I'm Sahil, Co-Founder at Requestly. Like you said, this is pretty much a standard template called open-core model for open source companies now a days. We explored lots of open source companies to finalise on AGPL+EE. We selected this because we wanted people to use it freely without any limitations and keeping only certain features like Team Collaboration under Proprietary license so that we could make a sustainable business as well.

We took inspiration from other awesome opensource companies like Gitlab, cal, Bitwarden before choosing the license. Hope this helps!