No, some of the core Gitea developers decided to incorporate a Hongkong based for profit company to better monitize services offered to companies.

This by itself is not such a bad idea, but it was communicated incredibly poorly with the community left in the dark for at least half a year and the subsequent fallout was also dealt with poorly.

I think the best way forward for self-hosters is Forgejo because of that, but that doesn't mean Gitea is currently a bad choice.

That's why the fork Forgejo was made. Codeberg uses that fork as well.