WCSF is easily controlled by WPHQ whereas a WordCamp in France, Sweden, heck even New York isn't as easily controlled / monitored.

How can we be sure that those WordCamps don't mess around with $40K that comes in from sponsors? Possibly keeping back some for the next camp, this eventually builds upto the point where if a WordCamp is to be any good it has to be done by one of the past organisers because they have the money to put on the big show whereas someone just starting out can't ask a sponsor for big bucks and can't afford as many bells and whistles for their event.

I think the cap on non-WCSF sponsorship money is justified and the name still appropriate.