Microsoft introduced an almost drop in replacement 3 days ago[1]. It is claimed to work with most Redis clients. I believe this will change things quite a bit a least for Azure users.
There are many drop in replacements (we use keydb), but, depending on the features you use, there are a lot of api compatible (but sometimes lacking features) compatible drop ins. We migrated of a large redis cluster overnight; 0 software changes.
Looks neat, but probably only for internal MSFT usage.
For what it's worth... Microsoft was quoted in the Redis press release as a cloud provider that has partnered officially with Redis under this new licensing scheme.