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It goes well beyond requiring an established company. It's so onerous that no company has yet successfully navigated all the gates required - even Google. Apple is maliciously complying with the EU's Digital Rights Act, and many years later, the EU has not concluded its investigations. I am incredibly disappointed.
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Apple is the only thing holding back Chromium / Blink from becoming the only browser technology that matters. I hope they keep fighting that fight.
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They don't fight it for that reason though. They don't care about an open web either.
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I don’t care why they do it. It’s just nice that their interests and my interests are aligned on this.

I care about the open web and see setting Google up for a monopoly on web browsers to be just about the worst thing that could happen. A duopoly isn’t much better, but it is better.

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Is this a new rule? I had my own browser published on the App Store about a year ago (as a solo dev).
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