They pay 3 full-time Bitcoin Core devs, they've funded work on bitcoin.org, they do various legal/outreach work, etc. They do a decent amount of good stuff, though I always worry that an organization like this will become a dangerous point of centralization someday. It would be better if the 3 full-time devs they're hiring were hired by 3 separate organizations, for example. (But it's better that the Foundation pays them than no one pays them.)
Exactly. But this is not
someday. It's
today.
There's no need for a foundation. All developers should and can receive individual donations. The Bitcoin Foundation just wastes resources and damages the reputation of bitcoin. It is a hazard.