And yet Google is a member of the initiative. Maybe, possibly, this initiative coupled with detaching Chromium from Alphabet might lead to an opening of the Chromium engine, but more likely Alphabet joined so that if it _does_ get split off from the mother-ship due to anti-trust they'll still have sway over Chromium's direction. And that will be an advertiser-centric direction.

I'll add that whatever the purpose of this project, it isn't going to help the overall openness of the web and will only continue to boost the adoption of an engine that already has an outsized influence over web standards.