If they're so Open, why is this the first I've heard of this venture?

PDF here: https://openwallet.foundation/wp-content/uploads/sites/11/2023/02/OpenWallet-Foundation-Overview.pdf

• The OWF is a consortium of companies and non-profit organisations collaborating to drive global adoption of open, secure and interoperable digital wallet solutions as well as providing access to expertise and advice through our Government Advisory Council.
• The OWF aims to set best practices for digital wallet technology through collaboration on standards-based OSS components that issuers, wallet providers and relying parties can use to bootstrap implementations that preserve user choice, security and privacy. -Accepting funding from the following "mix":
• A. Primary sponsors: Accenture, Gen, Google, VISA, FutureWei
• B. General sponsors: American Express, BankID, Esatus, Fynbos, Hope, IAMX, Idnow, INDY Kite, Intesi Group, Ping Identity, SmartMedia, Spruce, Swisscom, T-Systems
• C. Associate Sponsors: Cardano, Cheqd, Customer Commons, DIacc, Didas, DIF, DCC, DigitalIdentityNZ, Dizme, EKStep, Gleif, Hyperledger, ID2020, IDUnion, JKU, Lacchain, Mitos, MIT, MOSIP, Mydex, cznic, OIX, OpenID, SecurityIdentityAlliance, Sunset, DigitalDollar project, Mee, Trust Over IP, Universia, Unversitat Rovira

At least their wallet is open, just like their name.