If the changes were launched this way, being tied to a new version in 2024 then this would have been a perfectly fair approach, you could stick with 2022 / 23 LTS for your projects and only if you want ‘new’ features would you pick up 2024 LTS and agree to the new terms.
I’ve honestly not seen much difference between major versions e.g. 2021 - 2022 LTS, so unless these new versions come out with amazing new features, devs can still stick to these old reliable versions.
It’s much better overall but the way they’ve handled this has been shithouse