Yeah, aligning our own policy seems like a good idea.
I think the Open edX policy is good, but I would suggest two changes:
Allow use of additional models, including open source models in particular, as @tecoholic mentioned on their forum post. We want to encourage open source approaches in general.
Never use cloud-based LLMs on a repository that contains secrets, like infrastructure repos. This can result in secrets being used for training and potentially recoverable by other LLM users.