Some observations:
(1) It's interesting how much of the reasoning/argumentation for these restrictive licenses ultimately comes down to a more articulate form of "but that's not fair!". I also wonder how much the implicit beliefs that "unrestrained capitalism is a bad thing", "markets naturally lead towards monopolies", "antitrust law is legitimately necessary", etc are impacting peoples' reasoning here.
(2) If they can't actually compete and provide superior value to whatever managed offering Amazon can scrounge together, that's actually their fault. AWS' managed elasticsearch offering is absolutely terrible, speaking from experience. They block access to important APIs like `reroute`, any minor cluster change results in a whole blue-green deployment which very frequently hits a race condition that prevents the newer cluster from ever coming up healthy, requiring a ticket to be filed that takes multiple days to respond to if you don't have premium support, etc.
So functionally the idea that AWS is going to fleece them because they'll offer a just-as-good service for cheaper has not been the case. Elastic co's managed offering is simply far superior.
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Ultimately, Elastic has shown that they don't actually want to release FOSS. They want to release proprietary software, and that's why the (in hindsight very easy to foresee) usecase of a cloud provider offering a managed service angers them so much. They don't really breathe the FOSS mindset, because a true non-restrictive license (BSD, Apache 2.0 etc) means that a company can absolutely use your software to make money and that's okay.
Anyway, Elasticsearch is incredible software and the Elastic team has made something truly incredible. I just wish they had a vision for monetization that aligned with their open-source beginnings. It's clear that they don't, and the sooner they stop pretending they're offering a free or open-source solution here, the better.