Open sourcing worked quite well - a small group of people got together, tested it, improved it, got it running on a lot of multiple chipsets - thanks to OpenWebOS, Florian Haenel (heeen), Thomas Perl (thp), Simon Busch (morphis) and others. It turned the project from a late night hacking project into a viable solution for building device OS'es on top of. Or even running Android NDK applications using.
Earlier this year however, I discovered that a well-known company had taken the code - disappeared underground with it for several months, improved upon it, utilized the capability in their advertisements and demos and in the end posted the code utilizing their own source control system, detached from any state of that of the upstream project's. Even to the extent some posters around the web thought libhybris was done by that company itself.