Basically the title.
I have seen the EU-OS/Suse discussions for some months now. However, Ubuntu/Arch/Fedora are extremely mature projects. So competing against them will be hard.
I want to know how realistic the scenario (described by the question) is.
IBM/Red Hat maybe since it’s a US company. HOWEVER we went through this with PGP already and the infamous RSA Dolphin.
So could they try? Yeah. Would it work? I don’t know.