> Matrix, at this point, is effectively proprietary.
Matrix is fully open [0] and fully spec'd by the MSCs [1], and stewarded by the Matrix Foundation [2].
> It's fully controlled by one for-profit company (Element).
2/5 people on the board work for Element [2].
> and the blockchain protocol (yes, it uses a blockchain)
It does not use a blockchain (there is no proof-of-anything). You might be confusing blockchains with Merkle Trees, but in that case you'd also have to think git is a blockchain.
> is complicated enough to prevent independent reimplementations
There are several independent client [3] and server [4] implementations.
> And it doesn't even work that well.
Maybe not, but it has pretty good adoption [5]
[0]: https://github.com/matrix-org
[2]: https://matrix.org/about/
[3]: https://en.wikipedia.org/wiki/Matrix_(protocol)#Clients
[4]: https://en.wikipedia.org/wiki/Matrix_(protocol)#Servers
[5]: https://en.wikipedia.org/wiki/Matrix_(protocol)#Adoption