IBM, SCO and Sequent to develop new Unix

Vidar Hokstad writes "Apparently, IBM will team up with SCO and Sequent to create a new Unix for IBMs entry-level to large enterprise servers. I expect that means mostly hardware that runs Aix or AS/400 today, but why don't they just port Linux or *BSD instead? This article at news.com has more details" S: IBM's website has further details on this Project Monterey, in which they spell out that the partnership is to deliver only one variant of Unix running on PowerPC, IA32 and IA64 platforms. Can anyone make any sense of this? A cynical first analysis would be that IBM has realised that there is still money to be made in Unix in particular by using its position of a single large vendor to reduce support-FUD; IBM would use SCO to gain market share very quickly while SCO benefits from a shield from Linux' penetration into the "enterprise market". I guess I just don't get what technical reason there could be to yet another variant of Unix. Do you?