It already became a scrap when this went public.
And if the split is truly 50%-50% in all aspects, continuing it will burn the project to the ground.
From the manifesto, as nice as it is trying to sound, for me the overly aggressive approach with the demands speaks louder, this is a coup demanding an unconditional surrender.
Nobody sane would agree to this.
In open-source this would be the exact time where people split and the project gets forked, and historically it would result in a better product.
Yet the battle for the infrastructure and the brand leads me to thinking this is more about the assets than the distro, a tell that you have no funding or believe to have no reach otherwise.
My read on this is that the best move would either be trying to reconcile this and come to a deal that is equally acceptable to both sides and doing your best to ignore the bad blood, or split clean.
Otherwise, this will only result in loss of credibility for both sides, and it will become a public and possibly legal battle about who gets to be king of the pile of ash.