Well, that and there appears to at least be a commercial market for an LTS based on announcements from Red Hat, Azure, and now Amazon.
Azure are the ones who effectively posed the question in the community of hey, since we all appear to be doing this is there any value in collaborating on it in the open by rebooting the LTS working group.
Now that said, while you are absolutely right that third party solutions are the biggest boat anchor to users upgrading whether commercial or open source, they are also the reason an LTS doesn't necessarily fix much because then those things need an LTS too and/or they decide hey this is great we will fix on this one and it becomes an even bigger lift when the ISV does need to bring their stuff up to latest.
Azure are the ones who effectively posed the question in the community of hey, since we all appear to be doing this is there any value in collaborating on it in the open by rebooting the LTS working group.
Now that said, while you are absolutely right that third party solutions are the biggest boat anchor to users upgrading whether commercial or open source, they are also the reason an LTS doesn't necessarily fix much because then those things need an LTS too and/or they decide hey this is great we will fix on this one and it becomes an even bigger lift when the ISV does need to bring their stuff up to latest.