repackaging is a fundamental software freedom

Re-packaging is fine. You just can't sell it.

They're just trying to prevent a company from making money off the free labor of the authors. It's the same issue that has plagued other projects, such as Elastic Search, which ultimately led it to change licenses. And it's why MariaDB created the BSL, which they and other companies have adopted (very similar terms here - source free to use for non-commercial purposes).

If the hangup is specifically that they can change the terms, or revoke rights altogether, the other licenses also allow for that - that's how these projects are changing licenses at all, and it happens quite a bit. I have personally contributed to projects that were GPL, and then went Apache.

As a developer, I could certainly see not wanting to build on the project while the license is what it is, but as a user, I don't think this license is bad. I also think this is likely temporary (hence the name - "FUTO Temporary License"), and the tight grip on the rights are probably just so they can re-license later (hopefully to something a little more permissive). I could definitely be wrong, but given Louis's track record of fighting for things like right-to-repair, I'd give him the benefit of the doubt here. He could certainly prove me wrong though, if they do anything shady. Feel free to rub it in my face if he ever does.

Edit:

Just for proof, here's the specific line that says you can re-package and redistribute, from section 2, line 2:

2. You may provide the code to anyone else and publish excerpts of it for the purposes of review, compilation and non-commercial distribution, provided that when you do so you make any recipient of the code aware of the terms of this license, they must agree to be bound by the terms of this license and you must attribute the code to the provider.