Trade secrets might still apply, so you might just end up seeing companies not sharing their models with academics.
Meta might've lost trade secret protection here, as they shared the weights with pretty much anyone with an .edu email address. A court might rule that they didn't take enough steps to keep the model weights secret.
They might, but legal contracts are considered, well, legally binding. A lot of software has free/low cost educational editions, protected by access .edu address and a licensing agreement, and that's considered enough to protect copyright on that work. Whether ML models are covered by trade secret and not copyright, and whether that extends to trade secret coverage remains to be seen.
Meta might've lost trade secret protection here, as they shared the weights with pretty much anyone with an .edu email address. A court might rule that they didn't take enough steps to keep the model weights secret.