As far as I understand it (which could be wrong). LMG and FP Media will be two separate entities, so Linus (on paper at least) isn't involved in FP as he is also one of it's content creators (so as to not have any conflict of interest).
Hence, Luke "leaving" LMG.
Sort of like this...except the content creators remain their own entities...they aren't owned by FP.
Basically, "we" will pay Floatplane Media to subscribe to their service and in turn they will pay LMG, Bitwit etc. for access to their content.
They're all completely separate entities working in harmony. This is why on WAN show they mentioned that Floatplane will actually have to pay LMG for renting out office space etc.
In effect, FP becomes a sort of Netflix and the creators are akin to production companies like Fox etc.
We want to make this happen. It's still unclear how it'll work especially with respect to music licensing.
It's possible we will have to eliminate the "download MP4" feature and force people to stream outright.. but if we can find a way to keep it, PLEX integration is something I personally really want to see.