It paved the way for a lot more than that. At a time open source in general, and Linux in particular, did not have much corporate buy-in, IBM signaled "we back this" and "we're investing in this" in substantial ways that corporate IT executives could hear and act upon. That was a pre-cloud, pre-hyperscaler era when "enterprise IT" was the generally understood "high end" of the market, and IBM ruled that arena. IBM backing Linux and open source paved the way for a large swath of the industry—customers, software vendors, channel/distribution partners, yadda yadda—to do likewise.
agree - and the big industry consortium building `gcc` was already proving itself