I love this question. The decision to create the Web3 Foundation and not the Polkadot Foundation was very intentional. But first, let me clarify a couple background things:
There is no official @polkadotnetwork "team". W3F is currently paying @ParityTech to develop the 1st implementation in Rust. However, we have a RFP for other implementations and we encourage anyone to apply for a grant here:
github.com/w3f/Web3-colla…
github.com/w3f/Web3-colla…
We believe that in order to see a fully realized decentralized web, and to that end, a viable @polkadotnetwork, a number of protocols need to be further developed. We have outlined some of those protocols here: github.com/w3f/Web3-wiki/… 
Our goal is to support the tech being developed within this stack. We do this by convening top teams, driving research initiatives and collaborations, helping to facilitate standards, deploying grants, and providing a platform to build community.
And I agree our website is awkward :) It does not at all accurately represent the work we do. Polkadot is a major project, but by no means our only focus. We have just prioritized our team on other initiatives outside of marketing/websites. We'll redesign it in 2019.
We're a founding member of @ethereumecf which deploys infrastructure grants to the Ethereum ecosystem. We helped launch @ethprize which does similarly. We funded #web3summit which provided a platform to a wide range of protocols: youtube.com/web3foundation
We co-hosted ScalingNOW w/@Givethio to help bring immediate scaling solutions to Dapp devs. We organized an on-chain governance workshop and brought together @TezosFoundation @cosmos and @polkadotnetwork to compare approaches:
W3F is a small team of people who believe in an internet where users are in control of their own data, identity, and destiny. We work with any team or individuals helping to deliver this vision. This is not a zero sum game for us. We get to our goal quicker when we work together.
