We are all actively working on making Launchpad open source.
However, we are not going to do that until there is a clear revenue
model to be able to pay the salaries of the developers working on the
platform itself. There is absolutely no point in taking a step which
would (a) make it impossible to pay the salaries of the developers, and
(b) result in multiple incompatible Launchpad instances each of which
divided the eyeballs currently focused on Launchpad.net.
We have a roadmap to get there, and if all goes according to plan we
will deliver a free Launchpad in due course. I have no objections to
anybody writing an alternative to Launchpad that is free software. I
also respect the wishes of someone who chooses not to use Launchpad
because they do not have a copy of the code. I trust those same people
refuse to use Google search or mail, and SourceForge.net.