I feel like the energy I could spend doing a side project is probably better spent getting these last two features in, or fixing those lingering bugs, or getting that automation solid, etc....
It seems really odd to actually penalize someone who leaves it all on the floor. It's like a basketball player saying, "If you really want to see my skills, come to the park. The NBA is just my paycheck." -- is that the guy you want on your team? The guy who will tell his next employer, "Company XYZ paid the bills, but my real cool work is this GitHub project I did on the side".