I don't think people understand what closed source actually is. Hint: the source is not published publicly on Git.

The software is still open-source. Anyone can check the source an compile it by themselves. You can freely use it and copy it. It publicly published, for gods sake! Anyone can play around with it and see how it works. That's why it's there. Why put/keep it on Git if we can't even look?

You just can't distribute/sell it as your own (in your hardware product). Pretty sure you could make a deal for a paid license, but no freebies.

This only hurts the copy cats, the rest of us still have a hardware wallet with open-source software. And I'm also pretty sure it's not gonna stop the Chinese anyway...