You're on the right track. Fractured Atlas was disingenuously playing at semantics... craft has always been about production. I looked at them, but they're too big... fiscal sponsorship should be within reach of any 501c3. Venture capitalists are parasites, they produce nothing… making money off money is simply inflation.
I have watched too many 501c3's become subservient to corporate sponsorship (tax shelters, but also controlling the non-profit's agenda). MacKenzie Scott seriously challenged that rubric last year with the massive giveaway of her Amazon proceeds.
Here, Walton funds and controls almost everything... vulture philanthropists, rotten to the core. Windgate Foundation gives a lot of support to craft-related education ventures. A close read of 990's can be quite revealing.