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This software is what Cadence will gladly charge you $1M/seat. Seems pretty ambitious to pull this off for free.
Or you can see it as an opportunity. That just shows how ripe the electronics industry is ripe for disruption.
This seems to be mostly an umbrella effort, focusing (according to their home page) on the "RTL to GDSII" part of EDA. To the extent that they're successful, it would be quite complementary with other efforts in open hardware design, focusing on generating RTL from very-high-level, parameterized, quasi-functional hardware descriptions. But I'm a bit skeptical about their overall goals, particularly since one key issue with modern ASIC design is the unwillingness on the part of fabs to openly share critically needed info about their design rules or other proprietary details of their design-related workflow - and there's no way that open-source software alone can resolve this. Of course I do think we can expect a few useful tools to come out of this effort, and maybe that's compelling enough.
Indeed, a fully-open fab is needed. It seems crazy that access to silicon fabrication is limited to a very small number of wealthy businesses.
>. silicon fabrication is limited to a very small number of wealthy businesses.

Doesn't seem so crazy when you realise a fab can cost upwards of $1B

I came here for exactly this question. An analog-centric fab with 8” wafer technology, perhaps $1B for a greenfield setup. A state of the art 12” wafer logic factory? Think $5B. Not sure about DRAM fabs but probably comparable.
sure, but why isn't there a market for older process technologies that presumably would be cheaper to run?