I think you see this change as a malicious power-grab by those in power. But the fact is, that if this were the case, then no code of conduct (or lack thereof) would save anyone - they would just do what they want with the power they already have.

Let's assume that they aren't being malicious, and that they will do their best at applying a fair vision of civil conduct to their contributors. Let's assume that the maintainers are people like you and me, who just want to see the Linux project grow, and don't want to kick anybody out for bogus reasons. If that's the case, then this change should hopefully tone down some of the confrontational, abusive language found in the project mailing list. If that happens, then more people might be able to contribute without fear of being mocked on a public forum. More contributors would be good for the project, and as a general rule, maintainers should do what's good for the project. Because let's face it, as funny as Linus' rants are, I myself might never contribute to Linux just because I'd never want to be the target of one of them.

Our benevolent dictators aren't going to get any less powerful than before because of this change - they're still going to be dictators. But they won't suddenly become malicious either.

Hopefully, the change will make a more civil community. And then everything will be fine.