I get your point, but from my perspective it doesn’t feel like exactly this. This isn’t a new dynamic - it’s been going on nearly as long as Fedora’s been around. I’d say it’s more like an ever-present tension than a slippery slope.
The way Fedora can “compete” is not by turning into the thing some parts of RH might superficially think they want - an upstream project that’s open source in license terms but closely-controlled in governance - but by being the thing they need - a loosely-coupled upstream project with passionate and involved people who will make things awkward and uncomfortable at times but usually produce a better end result over the long term, and act as a useful check on RH’s perceptions at times.
We (RHers who care about Fedora) have to keep selling this vision and making sure it actually works, but there isn’t an inevitable one-way slide into the abyss, it’s a more complex dynamic.