If this is a conflict of interest, then any Ruby core systems being controlled predominantly by members of the Shopify dev team is itself a conflict of interest. I am fine saying 'we need to make sure these libraries stay independent and community controlled', but that is so clearly not what was going on here. Believing that is just letting the RC FUD and PR control your thinking on the narrative.
I'm sorry but what are Shopify's business activities that directly compete with services provided/maintained by RubyCentral?
As far as arguments about community, Shopify IS the community by virtue of being the ones putting up pretty much all the money to keep this ship afloat.
If you don't have skin in the game your positions won't be taken seriously.
Depending on your point of view, Sidekiq either turned their back on the community or tried to start a coup by pulling funding just so they could morally grandstand.