Hello. ArcaOS has Qt4 and Qt5 ported. There is an version of OpenOffice available for it. It has ACPI, ACHI and USB support. It is not only a retro-computing novelty, there are people, like me, that still runs it everyday and believe in it. I invite you all to visit OS2World.com if you really want to see the community.
I think it is both. IBM may missed the point in a big way. They were an slow corporation to market an OS home product. The PC became a home product and IBM was not ready to be on that kind of circus.
There are actually developers that had given a lot of open source software to the platform (OS/2) without expecting nothing in return. But cloning OS/2 to turn it open source is a very long task and we don't have enough hands on the community.
But eComStation and ArcaOS uses IBM's binaries (OS/2 binaries), so to be a legal product an agreement and $$$ has to be given to IBM to be able to distribute a resell the binaries. So, it can not be a free product until some developers clone an open source replacement for the OS/2's binaries.
If you have doubts you can visit OS2World.com and ask on the forum.