They do allow you to profit off the software though, by using it to host the service for yourself (even as a company), you just can’t offer hosting as a service to compete with them. Obviously this doesn’t offer as much freedom as just a straight MIT or Apache license, but I feel like it still qualifies as open-source; they are only really adding one restriction, and it could even be considered less restrictive than something like GPL (no requirement to open source derived software). I think this license makes a good compromise of being as open as they possibly can without AWS/GCP/Azure eating all of their business without doing any real engineering work.