Fair-code is not a software license. It describes a software model where software:
- is generally free to use and can be distributed by anybody
- has its source code openly available
- can be extended by anybody in public and private communities
- is commercially restricted by its authors
So a single entity is allowed to commercialize external contributions without any kind of reciprocity. Somehow it sounds worse to me than Shared Source.
If you are worried about leeches just use AGPL and call it a day.