What I think happened when @linuxfoundation took Overture Maps:
Companies and foundations want to support OpenStreetMap. They see the huge community and the impact we make to the world. Foundations were made to support projects like ours.
But.
We already have a foundation. OSM Foundation.
They rightfully expect OSMF to support project grows, that is, to support mappers and communitiy and tools for editing and validation. Tools that would make Niantic stuff easily identifiable and revertable.
Nobody in OSMF asked to be part of LF. And we shouldn't. Foundations usually don't talk among themselves (I guess?)
So there is another group. For packaging data for consumers and promoting open geodata to businesses. On a scale never seen before. They needed a foundation, and LF stepped in.
Why wouldn't they? It open data. Participating companies have a good track record in supporting open source. Bringing open data to more people — what's not to like? OM competes with Google, not OSM.