All of the points you raise would be too if the project were simply a proprietary product, too. We're not worse off for having to deal with them for two years instead of forever.
No doubt that Fair Source and other eventually open source products are better than never open source products. Absolutely! And if Fair Source succeeds in getting more developers to release code, even if the code is 2 years old, as open source, I am all for it. I just want a clear understanding of what it is and what it isn't and what makes it different from open source.