Or should I say, it held water until few days ago.

Personally though, I never bought it. Saying that weights are the "preferred form of the work for making modifications to it" because a) approximately no one can afford to start with the training data, and b) fine-tuning and training LoRAs are cheap enough, is basically like saying binary blobs are "open source" as long as they provide an API (or ABI) for other programs to use. By this line of reasoning, NVIDIA GPU stack and Broadcom chipset firmware would qualify as open source, too.