TLDR: SUSE plans on investing $10+ million over the next several years on developing a free binary compatible RHEL fork.
They expect and encourage community input during the development.
SUSE will also continue maintaining SUSE Linux Enterprise, naturally.
I don’t know if the 10M is a pun or something but it reminisce the same amount that Mark Shuttleworth pledged when he started a Debian fork project called Ubuntu.