Too much bureaucracy kills every project, however, a simple code of conduct sets basic rules and if everyone act according the rules, open source projects can develop in a god direction. Of course, you always may find someone, who violates the codex, independently how complex or how simple the codex may be. We should be all interested in good developments and therefore, follow the basic rules.
You can use a lot of words, it depends in the context of use and how much know how you have about projects, procedures / processes, programming, etc. I work in an open source environment (our company contributes crucially to OTRS project and develops additional modules) and I have often contact to some open source enthusiast and closed source enthusiasts. I think we should know both sides to be able to communicate freely, and we should also see the integration and motivational potencial between both "worlds".