Suddenly, it all makes sense...
Interestingly, it seems like it was lead by good 'ole Geir Magnusson.
Maybe nothing was read into that when the proposal came out. But now, Geir is an IBMer.
With the acquisition of Gluecode, GM Jr. now works for IBM. Should Harmony succeed--and as Dion points out, IBM certainly has the IP for that to happen--what becomes Sun's role?
Eclipse is the dominant IDE, Harmony would be the dominant VM, Geronimo could be the dominant app server... the JCP and Sun's reference implementations could become somewhat irrelevant to a large swath of the community.
I'm not a conspiracy theorist, and this whole line of reasoning is probably just bunk, but... things are getting interesting. Oh, right, forgot, the name "Eclipse" was just a coincidence, had no intended meaning towards Sun... ;-)