The governance of the Matrix Spec has always been open, as explained on the website (https://matrix.org/foundation/about/) and in the Matrix Spec Change process (https://spec.matrix.org/proposals/).

Meanwhile in the last 2 years the Foundation has evolved a lot, in particular with the election of its Governing Board (https://matrix.org/foundation/governing-board/) representing all stakeholders of its ecosystem, and which has an advisory role to ensure the independence of the Foundation. The Governing Board has also set-up several Committees which are hosts to Working Groups which help run the various activities of the Foundation (https://matrix.org/foundation/working-groups/). You will note in particular the existence of the Governance Committee (https://matrix.org/foundation/governing-board/committees/#go...) and its corresponding Working Group which “exists to determine how The Matrix Foundation should be structured. It determines why the Foundation is structured the way it is, or look for alternatives when the Foundation has visible flaws.”.

In terms of the Foundation developing its own software: it has been a deliberate choice to not have any development (beyond moderation tools) within the Foundation. The reasons for it include the fact that the Foundation is already running at loss and can’t afford to pay a team of developers big enough to develop and maintain all the bricks of a Matrix stack. If the Foundation decided to develop everything itself it would need to set up revenue lines which would probably compete with the various vendors in the Matrix ecosystem, so the Foundation would rather support an active ecosystem than cannibalise it. That said, it may change in the future if that is the best choice for the project; or a Matrix vendor may choose to donate the code of their stack, like Element was donating Synapse until freeriders destroyed its business and forced them to fire half their employees to stay alive.

In terms of Synapse’s efficiency, it has improved lately despite losing some of the team, and thanks to having stopped dispersing the resources across two server implementations in parallel, and focused on one. As you say Continuwuity is an alternative implementation to look at if you are unhappy with Synapse.