I follow that too, when I try a new venture, but what does that have to do with "The Code Is/Isn't Important"?

What you listed is important, but those findings are distilled into the source code of the product. If you open the source, you are providing step-by-step instructions on solving some problem that other people are prepared to pay to solve.

Basically, you come up with a recipe for success for $FOO - why would you give that recipe away unless you've already capitalised on it?