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The issue is they can install spyware after selling their company and if you have automatic updates you'll get that too
True, although that has happened with F/OSS as well (like with xz or the couple times people put Bitcoin miners into npm packages). In either case it's a lot less likely than the software simply ceasing to be supported, becoming gradually incompatible with newer systems, and rotting away.
Except, of course, that I can pick up the decade-old corpse of an open source project and try to make it work on modern systems, despite how painful it is to try to get a JavaFX application written for Java 7 and an ancient version of Gradle to even compile with a recent JDK. (And then finally give up and just run the last Windows release with its bundled JRE in Wine. But in theory I could've made it work!)