> Arxiv is for preprints, this is full peer-reviewed publishing. It replaces academic journals, not preprint repositories like arxiv.

not exactly, they publish first, reviews happen afterwards, often not approved

> They mention Diamond Open Access, so probably not

not exactly, Diamond Open Access - is still an action plan, access is free only for EU-funded researchers (EU commission actually pays)

> few oligopolistic publishers

sounds interesting, who do you mean?

> Not sure what this point means and how it's relevant to this initiative

the initiative is about "sharing knowledge". wonder what is the real purpose

> Idk, seems pretty specific to me

"open science", "equitable access", "flagship initiative" etc.