[carlosjobim]

Reading what little information they have there, they aren't a public facing or public serving organization. They seem to provide their services to institutions only:

"working with dozens of European libraries and government agencies to build web collections, Internet Archive Europe prioritized collaboration with cultural heritage organizations to safeguard our collective history."

[badlibrarian]

Internet Archive runs a completely separate version of their site for paying institutional clients. https://archive-it.org/

In a best case scenario, this eventually becomes the replacement for the (lets be honest) absurdly awful archive.org front and backend.

So: an expansion into the EU market. And yes, a honeypot for grant funds, because why not? Good for them.