[nickvincent]

Yeah, I think this is spot on. The version of WMF Enterprise being described here is formalizing / codifying an informal relationship that already existed (Google using Wikipedia content all over the place, and making various one-off donations to WMF), and as you say, formalizing has benefits for both parties! Certainly ways this could have some long-term negative impacts, but WMF is obviously thinking pretty hard about mitigations, it seems.

The discussion linked in a comment above (https://meta.m.wikimedia.org/wiki/Wikimedia_Enterprise/Essay...) also provides a pretty nice FAQ to the negative responses.