It’s not just the for-profit corporation, there’s also governance issues. Basically, the community elected certain positions and then had the rug pulled out from them such that no elections would be held again.

In the name of the Gitea Community who elected you last year, we welcome the creation of a for-profit company that allows you to make a living out of Gitea.

[…]

We believed you when you promised to pass along the ownership of the Gitea project to your elected successors. This promise is part of an essential bond between you and the strong Community of volunteers, as well as all those who rely upon our collective efforts.

With that in mind, you can understand our surprise when we learned on October 25th, 2022 that both the domains and the trademark were transferred to a for-profit company without our knowledge or approval.

Source.