I have run Fedora since before it was known as Fedora. It is basically the same is what Red Hat 10 would have been. As far as updates go, if anyone cares to read what Red Hat says on fedora.redhat.com, you will find that support will be offered in the form of updates, using up2date, via a yum channel. It works; it works well; and it has worked for me for the last two months beta testing Fedora Core. I am running FC 1 right now, and it's the best Red Hat that there's been yet, even if it's not named Red Hat.
As to the statements made by Red Hat's CEO, well, he's spot-on. The typical consumer is not yet ready for Linux. Nor is Linux yet ready for the average consumer. But he further said 'yet' -- meaning that in the future Linux may very well be ready. It would be nice if people would actually read what he said, instead of what they thought he said.
Up2date now works with yum and apt repositories. The development community is much more open (which has its upside s and downsides!), and if anything Red Hat is more involved than ever. But people will overreact to anything, I guess.... 😊 Yum itself is shipped; apt is not at this point.
As to cessation of support for older Red Hat releases, yes, Red Hat is going to do this. But they said this nearly a year ago. However, there is a project, called Fedora Legacy, that intends to pick this up as a community.
The canonical source for Fedora informatin is fedora.redhat.com.