If there is so much angst against the foundation, why don't people just organise a new one?
Because we're too lazy. It's much easier to sit behind a keyboard and bitch about the current one.
I would say that it is more because there is no real need for any kind of official group of foundation that "represents" Bitcoin. People will work on the bitcoin code with or without the help of TBF (or any other similar entity). The market is self-regulating and there is no need for TBF to assist in molding the market
Obviously having an entity to "govern" bitcoin in any way would negate bitcoin's very goals. The situation of Gavin wrt the Foundation wrt the blockchain is already, ahem, interesting.
However, there could be
* A Foundation to sponsor technical studies, education, etc. -- but
not to control the blockchain, protocol, or core software, or represent bitcoin to government, or engage in business.
* A Trader Association, to publish standards and ethical guidelines for exchanges, pressure them for openness and independent auditing, and evaluate them for compliance;
* A Miner's Association, to do the same for miners.
Ideally these institutions should have a low fixed fee, and refuse donations. Otherwise they would soon be "owned" by a few large members, and will cater to their interest even when it is against the interest ot the majority of the memebrs. Which seems to be the current state of The Shrem Karpelès & Friends Foundation...