It will be interesting to see if many care about this and who they are if they do. In some ways, this flurry coming from the W3C stalwarts is the reality test of the continuing or discontinuous relevance of the W3C to the evolution of standardized web systems on the Internet.
It is possible that without much fanfare and little notice, the control of web evolution has passed back to the industrialists who quietly sponsored it and insisted on its primacy in major acquisitions. At least in the USA, those institutions passed into the control of MBAs from B-schools whose dominant computer literacy is with spreadsheets.
So the question is, can spreadsheet-augmented intelligence fix the mess made by Tim Berners-Lee et al with the launch of HTML and the Mosaic web browser if Sir Tim and the W3C can't?
This will be fascinating to watch. The mammals are relentlessly innovative in their messmaking and the means they deploy to clean it up or to avoid cleaning it up. In the latter, the well-financed announcement is usually something to the effect that the mess is actually a clever, simple solution and simple is always preferred.
In technology and politics, the best approach is always slow and steady with diplomacy preferred and guns kept unlocked but loaded.