So you don't view this as Apple getting free whitehat testing and a chance to not get hacked? I think there are two viewpoints you could take here and I think the truth is directly in the middle.
Competitors should be embarrassed when it concerns security flaws. It's one of the best ways to generate media buzz and inform customers about the flaws, and also their consequences.
There are many possible motivations for Project Zero, and the reality is that more than one is likely responsible for the inception and ongoing sponsorship of the team's membership and activity.