I agree it seems rather a waste of time reverse engineering that particular chip, it is little interest to hobbyist/DIY market. By the time the specs have been defined to a usable state, the chip will likely be obsoleted by new iterations.
As for Bunnie's general idea of "open sourcing" Chinese designs with opaque IP, I think is swimming against the tide. I think I would rather pay $10 for a chip that is documented and supported rather than $3 on a chip with none.
It is interesting to note the reversal here, now the Chinese are IP leaders and we are left picking the crumbs, and reverse engineering their designs. A sign of the future I think.