The danger here is that they make "open" standards so horrendously complex and ever evolving that only the billionaire mega corporations can can realistically keep up with them.
See the web where Google now control it completely by having such an enormous amount of code that even Microsoft couldn't be arsed to keep up, or Office Open XML, where 100% compatibility is limited to exactly one product: The one that made it. I just downloaded the documentation for the standard. It is over 5000 fucking pages long. That was part 1 of 4.