Most of this is .. actually quite sensible
Don't want to be the "nothing to see here" guy, and layoffs are never good. But some of this actually makes sense.
RH have a long history in maintaining their own builds of things, for example the JDK or Spring, where they add little in the way of extra capability. This made sense back in the days of yonder where community projects tended to be less concerned with LTS builds. RH added value by maintaining such builds.
OSS projects seem, in my perception, to have become much more mature of late, often maintaining their own LTS builds (corporate sponsorship plays its role here). Inevitably, rolling one's own build therefore accomplishes less.
I think it was a couple of years ago that RH announced that the Temurin JDK build would be fully supported on Openshift, for example. There's a win-win thing here; RH backs, and presumably helps fund, a community-led build, so they don't need to have a separate team themselves. The community gets the sponsorship.