At least they're not claiming it's Open Source / Open Weights, kind of happy about that, as other companies didn't get the memo that lying/misleading about stuff like that is bad.
There's nothing to be happy about when businesses try to wall-off a feature to make you salivate over it more. You're within your right to nitpick licensing differences, but unless everyone gets government-subsidized H100s in their garage I don't think the code will be of use to anyone except moneyed competitors that want to undermine foundational work.