You mean Bookworm? Packages are frozen though, so they have completely different use cases. I dislike RH so I wish there were other community controlled Linux distro with the same cadence as Fedora.
There is perhaps room for a new player to enter the market, but I think the correct path would be to direct that effort towards improving Debian as a whole. It's truly one of the greatest open source projects in existence.
This was the case with older versions of Debian, but these days it is quite nice.