Yeah, this model doesn't work as a long-term solution in my eyes, because as a potential open-source contributor, I do not see myself ever contributing to such a project.
I mean, I am avoiding anything which requires a CLA, in particular if I'd need to hand copyright over to a for-profit organization, but in those cases, because I don't yet know, if I'll get fucked over. With this "FairCode" thingamabob, I would feel fucked-over right away.
And that ultimately breaks with why open-source is popular. Because everyone can scratch their itch and improve it for everyone else. If it's just a for-profit organization dumping their source code, that's going to fall off in quality quickly.