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Can someone explain to me the difference between "community-driven" and "corporate-driven" distributions and its implications?

A lot of debate today about "community" vs "corporate"-driven distributions. I (think I) understand the basic difference between the two, but what confuses me is when I read, for example:

...distro X is a community-driven distribution based on Ubuntu...

Now, from what I understand, Ubuntu is corporate-driven (Canonical). So in which sense is distro X above "community-driven", if it's based on Ubuntu? And more concretely: what would happen to distribution X if Canonical suddeny made Ubuntu closed-source? (Edit: from the nice explanations below, this example with Ubuntu is not fully realistic – but I hope you get my point.)

Possibly my question doesn't make full sense because I don't understand the whole topic. Apologies in that case – I'm here to learn. Cheers!

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