I have seen the EU-OS/Suse discussions for some months now. However, Ubuntu/Arch/Fedora are extremely mature projects. So competing against them will be hard.
I want to know how realistic the scenario (described by the question) is.
Small note. Opensuse Leap is EXTREMELY stable. Just as stable as RHEL and more stable than non-LTS Ubuntu. It’s just less well marketed in the English speaking world.