Of course Canonical is free to do what they want. It's their money, they can invest it all in two-legged chairs if they so choose. The question is not whether they have a right to do it, the question is IS IT SMART.
And the answer is, no it's not. By constantly reinventing everything, they're not taking advantage of the main benefits of the open source model (collaboration!). You're right, they do have a right to do stupid things. It still doesn't make those things any less stupid.