But GPL3 has been a good license for GCC; giving up the theoretical ability
   to change the license (other than to a later GPL) does not seem like a
   significant loss.

That will cause trouble incorperating code or documentation snippets
from the code base into the GCC manual; which is not under the GNU
GPL.  As it is, the FSF can and does give such permission to relicense
bits and bobs -- now you've entierly lost that ability.

The other loss is that parts cannot be relicensed under say the Lesser
GPL for whatever reasons, incase a library might be more useful
outside of GCC.  The FSF has always been open to create special
exemptions to the copyright assignment process.

This is just all ill thought, and clearly shown by the lack of any
discussion with anyone.

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