AT being backed by VC is false—it's Bluesky the company that is. AT is merely a spec for signing, storing and propagating structured data (records) + the identity that owns said records.
Not really. It's very open for everyone to participate. Further, Bluesky has been working on standardizing AT at the IETF [0][1]. They have also made a patent non-agression pledge: https://bsky.social/about/blog/10-01-2025-patent-pledge
In short, they're actively working on making AT as neutral as possible.