I only read the first 8 pages or so, and I think it's possible I missed some backpedaling or clarification, but I did want to just tell you how dismayed I was by this, and how if it truly is a company-wide All-or-nothing decision, it is absolutely worse than having 4e be completely closed.
Two possibilities:
4E operates under this GSL with the horrible 'ditch your old' requirements - - in this case, Wizards and any publishers that don't want to lose out publish 4E material. But anyone who still enjoys 3E loses out, because many publishers do the 100% switch, and 4E folks lose out, because some companies continue with OGL. Then 5E comes along, and all publishers must participate in GSLv2 (which is MORE restrictive) to do 5E, and if they agree they must abandon all 4E work.
4E is closed to 3rd parties: Wizards still puts out a ton of material for 4E...4e users lose out a bit from 3rd party work, but have 100% of the attention of the biggest publisher. 3.x users win big time, because publishers have no choice but to publish under the OGL.
And I'm not sure if anyone realized or posted about this, but with this action, WOTC also officially REQUIRES that anyone who wants to move 4E must compete with all other companies who make the switch, and they can have no alternate source of D&D revenue in the form of catering to those who stay with old additions. All the big guys move to 4E, and all compete for the same pie.
I guess I'm interested in protecting companies that have done right by me for years. Green Ronin, Malhavoc, and many others...let me just say right now that I have cancelled my bn.com preorder for the three-book set. Because with this new rule I can DEFINITELY foresee WOTC doing a new version in a year or two, revoking the last GSL, and demanding that everyone follow along.
If this restriction is in fact real, I would now state that it may be the WISER move for publishers of any size to stay with the old OGL, where there is a player base (some of which admittedly will move to 4E, true), and where you can remain sure that what you publish now won't be rendered invalid by WOTC's need to drive players to the next version.