I think you're missing the point. Oracle and SUSE have quite successful commercial offerings already. They don't need to sell a RHEL clone as their core business. I don't know why you think SUSE is unable to "create or maintain a Linux distribution," they're one of the oldest distros out there. SLES and SLED are extremely well regarded, and SUSE is doing further work/research into immutable server distros for the future. They certainly can "create a Linux distribution". Oracle has a mixed history but certainly anyone could view them as successful overall.
No, what they're actually doing is creating a clone for the downstream packagers so they aren't suddenly cutoff by Red Hat's (IBM's) decision. They're trying to give the community back what was lost. A collaborative effort to mitigate the damage done by commercial interests. They're not really doing anything other than restoring things to the way they were. Anyone who was using a distro that was downstream of RHEL wasn't looking for enterprise-level support in the first place so I don't really understand your complaint there.
I mean, really, the whole Linux ethos is community. These two companies coming together to give back what the community lost, for free, is what FOSS is all about. Somehow I feel like that has gone right over your head.