The copyright holder doesn't have to distribute the work under the terms of the license because he/she/it already has complete permission to distribute it in any way he/she/it wants under copyright.

Actually, I'm not entirely sure, but I think that if software is distributed under the GPL without source code ever being provided, it is not possible for anyone else to redistribute it at all under those terms, because as you mention, distributing under the terms of the GPL requires either including the source code or providing it on request. If that's true, releasing something under the GPL, but not ever releasing the source, is no different from using no license at all in practice. Whether or not this is the case depends on whether the copyright holder's refusal to provide the source code so that you can comply with the license prevents them from successfully suing you.

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