What "most people" (Arch Linux enthusiasts I presume) think about it has no influence on the contracts between Kagi and their investors, and the laws the parties have to abide to.
Venture funding is a financial and legal term with a defined meaning. Unfortunately the real world does not care whatever idea the hacker "community" has regarding what the words mean.
Actually the real world does care. Words have meanings in the context that they're spoken, and often times whether you want to or not, dictionaries have to update their meanings because they changed over time.
