So you are saying that in a few minutes, I can clone Ripple (XRP + Site) EXACTLY how it is?
I haven't done it myself, but I understand it's a couple of hours work if you've never done it before. Probably minutes to an hour if you've done it before, and less if you have it scripted, but I don't thing many people do. Note that I'm not saying that
Ripple Labs doesn't have closed source code, but that's just like Bitstamp or Mt Gox or blockchain.info having closed source too. The essentials like client and server and lots of supporting stuff as well are open source.
Yes, but they still are running things that we dont know of, just like Twitter.
EDIT: Of course this is essential to the business because if they release the FULL source code and steps to reproduce it, people could start their own site and probably overtake Ripple. Unlike this bitcoin is fully open.