most are volunteers the few that receive grants are being paid below market rate, financially would be better for them if they worked in the private sector instead

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Personally I do not believe normal people do things for free. There is a price of time that is paid with compensation, or an ideological karma such as family love or adherence to spiritual practice. When people do things for compensation I am not able to understand their motive without seeking the motive of the one who paid their compensation.
Below market rate in fiat terms for now, The upside is unknown. The social status amongst devs is also something that you have to put great value on. This is also a resume builder for your market rate elsewhere. Overall there's a clear benefit that can be tremendous.