The question is probably about a whole engine, not a low-level engine library :P.
As MaiZure observed, I'm pretty much opening the sources of the base libraries (they don't have a license agreement yet, but probably MIT). However, this is not the only layer that JH is built on. Also, even when the game is completed, and I release the modding tools to the community, by no means will Nova (the underlying engine) be able to compete with existing engines in terms of documentation, upgrade stability, examples, tools, etc.
To get the engine to such level requires a lot more time, actually a lot more additional time than making the game and engine itself, not to mention maintaining version compatibility and support. Time which I don't intend to invest -- because it would much better be spent developing the current, or next game, right? :)
So, the JH engine might only be of interest to people that already posses the dedication and skill needed to write their own, and in no way would be a substitute for current commercial engines (e.g. Unity/Unreal).