Well, technically this is still Colobot EPSITEC's engine on steroids and few hardcoded stuff things completely excludes this thing to be named "engine".
Although nobody refers to the engine this way, so does it really need any name? Until it's flexible enough and more games are made on it, it doesn't need any name at all.
We have now three major competing game engines, all of them available for free: Unity3D, Unreal Engine and CryEngine. What a time to be alive! Game developing is easier than ever, and I'm still sitting here like the lazy ass I am without anything significant in portfolio...
Well, it is still an advantage that you can get the engine for free and read its source code. It's like freeware with open source code. Quite nice if you ask me, indie developers are given so much for free. If you happen to need more, you just pay them to get a less restrictive license or permissions. It's a good deal.
So why they even think to release this "for free"? This is almost useless as Doom 3 engine that was released few years ago. Possibly even CryEngine SDK is more useful than this...
"3.3. The design of the splash screen, the credits screen, the documentation, the packaging and the marketing material is subject to Crytek's prior written approval regarding Crytek's copyright notice and trademarks. The approval shall be deemed given if Crytek does not give any notice within ten (10) days from receipt of a sample." huh.
Well, you can create other things than games only and only if you are a student or a member of academic institution, and you're still not allowed to sell them without Crytek's permission.
Oh no, not at all. It's not even close to Open Source. Just read the license, it is quite restrictive. Basically it's just a part of their new "pay what you want" model. If you take the source code and modify it, you're breaking the EULA. You can't even make something that is not the game, like simulations and such, using the engine. You can't release a game which would be rated as for adults only (because it probably contains violence and such, and this is explicitly forbidden in the license). For all of those things, you'd need to get a different license specifically for you directly from Crytek. If I'm wrong, then correct me, but that's how I understand the license.