You're more or less right. OSM (via an exhaustive licence change process) did indeed choose the licence that matched its preferences, and almost all contributors are happy that it allows commercial use.

What does stick in the craw with many of us, however, is that Meta, Mapbox, and various other bigcos have nonetheless decided to disregard the attribution requirements of what is a fairly permissive licence, simply because they're sufficiently big that they can say to the OSM Foundation (annual turnover about £3.27) "suck it, we dare you to sue us".