What would the purpose of a "New" Foundation be?

The Foundation's origin was/is based around a core group of developers and business partners with the purpose of enabling a more democratic representation to the open source project we know as Bitcoin.

So it would seem that the BEST way to circumvent the existing collaboration would be:

1 - Establish a team of technical resources that can execute updates and enhancements in a more timely fashion
2 - Garner the support of said technical team from a few substantial business partners that support the new direction

There is no reason why there has to only be ONE Bitcoin open source project. Start a new one and have it compete and succeed against the existing client.

It does not seem to me that the Foundation has any real authority or power over the Bitcoin code (anyone can download it and re-release it), so just create your own project and organization.