Open source licenses must allow free redistribution. FTL allows license suspension and termination at any time, without notice, for any or no reason.
Open source licenses must allow source code distribution. FTL allows restrictions to access the code at any time, without notice, for any or no reason.
Open source licenses must allow modifications. FTL allows modifications only for non-commercial use, or maybe not even that. FTL dodges the word modifications here, no clue.
Open source licenses must explicitly allow distribution of software built from modified source code. FTL forbids distribution of software built from modified source code for commercial use.
Open source licenses must not discriminate against persons/groups and fields of endeavor. FTL allows license suspension and termination at any time, without notice, for any or no reason.
The FTL enables the following practices:
Copyright holders can change the license terms.
Copyright holders can re-license everything.
Copyright holders can target specific groups and individuals with discriminatory license terms.
Copyright holders can close source everything.
Copyright holders can forbid specific groups and individuals from using their work.