If what they’re going to do is properly maintain the ActivityPub spec, rather than leaving it frozen in 2018, then I’d welcome that. Having a dead “living spec” has been the main problem all along, forcing developers to grow their own.
So, the bad news is that this is properly the work of the Social Web Incubator Community Group (SWICG or SocialCG), a part of the W3C. It isn’t one of the goals of the Social Web Foundation, although the SWF is going to support my work (and others’) at the W3C on ActivityPub.
The good news is that there’s a lot of activity right now. Over the last year, SWICG has been working through the backlog of issues on ActivityPub and Activity Streams 2.0 and building up documentation, errata, and ideas for a next version.
The W3C is working on chartering a new Working Group, which is what is needed to make a new version. It will probably be limited scope, an AP 1.1, with backwards compatibility, fixing errata, and clarifying unclear text.
I’ll be actively involved, and since I’m part of SWF you could say that SWF will be working on this, but the actual org is W3C.