There's too much money in Rust, and many power brokers at play here from Google, Amazon, MS, et al. People are incentivized by money and career growth to lead Rust's future. I think core members should be the one leading the foundation, but there are a few reasons this hasn't happened:
1. Core members are burnt out.
2. This is not their primary skill set (administration vs engineering/community building).
Other languages have been blessed with an administrative group (GvR/Python[0], Hickey/Clojure), corporate sponsor (Pike/Go), or committee (C++, Java). The counterpart for Rust is core member/Mozilla, but there is no appetite for this responsibility.
1. Core members are burnt out.
2. This is not their primary skill set (administration vs engineering/community building).
Other languages have been blessed with an administrative group (GvR/Python[0], Hickey/Clojure), corporate sponsor (Pike/Go), or committee (C++, Java). The counterpart for Rust is core member/Mozilla, but there is no appetite for this responsibility.
0: I like this talk about governance models at Pycon 2019, after GvR stepped down as BFDL: https://www.youtube.com/watch?v=mAC83JVDzL8