There seems to me to be a false dichotomy present in a lot of the comments here: either Google funds all web browsers, or all the web browsers will crash and burn and the modern web will die.
Linux is a project spanning many decades with thousands of contributors and is not owned by any company. The BSDs are similar. I do not see why something similar cannot be accomplished with the web; a group of FOSS developers, and eventually, perhaps full-time developers at all manner of companies, could support a modern web browser. This seems to work fine for Linux - many companies pay developers to work on Linux because their business depends on it, so it is a good investment for them. The same applies for web browsers - many companies’ businesses depend on it, so funding a browser is the cost of doing business.
The last argument is basically the key point, you think google is going to let browsers die? Their entire business model depends on its survival; they just get less control over its destiny now, which is probably fine tbh.
This is a radical misunderstanding of how things work.
They might (I'm assuming based on usual foundation policies) own or enforce the trademark, but Linux is owned collectively by everyone who ever contributed to it at all -- there's no copyright assignment in the project whatsoever.
Additionally, Linux was a large, successful commercial project LONG before LF existed.
Linux is a project spanning many decades with thousands of contributors and is not owned by any company. The BSDs are similar. I do not see why something similar cannot be accomplished with the web; a group of FOSS developers, and eventually, perhaps full-time developers at all manner of companies, could support a modern web browser. This seems to work fine for Linux - many companies pay developers to work on Linux because their business depends on it, so it is a good investment for them. The same applies for web browsers - many companies’ businesses depend on it, so funding a browser is the cost of doing business.