This is what Oracle Linux already does, so Red Hat is only hurting themselves by not doing so, since anyone who wants this can just go to Oracle. (Notwithstanding the fact that Oracle is evil.)
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Yea, going to Oracle is always a bad idea and they'll find a way to get money out of you.
It's pretty common for me to convert customers from Oracle JRE/JDK to OpenJDK/JDE when Oracle says they need to pay millions for no good reason.
But here's the kicker: the worst thing Oracle can possibly do is to say "yeah, that whole Linux distro that we used to give you for free? We're not doing that anymore." So even if you do move to Oracle Linux and they go full evil, you're no worse off than you are on CentOS right now.
Disagree: RH isn't likely to sue you.
Look I just did an Oracle to OpenJDK transition for the same reason but I don't really think Java SE licensing is an example of Oracle being particularly Oracle. It's just that Oracle Java isn't free and they're doing what every company is doing switching from one-time license fees to subscriptions.