I understand this might be somewhat of a sensitive topic, but I just noticed today that Owncloud has a 9.1 RC out.
-Will Nextcloud be pulling the code & features from Owncloud 9.1?
-How does the code exchange between Nextcloud & Owncloud work?
-Will users soon be able to migrate from Owncloud 9.1 to a future Nextcloud release?
I know that these questions are somewhat steeped in politics, but as a user of Nextcloud, Iād like to know how the devs are approaching this.
From what I learned, Ownclouds licensing model differs to the one Nextcloud uses. Actually this was one of the reasons for this fork in the first place. Due to the licensing Owncloud cannot use code developed for Nextcloud (they would need to loosen their license model), but Nextcloud can continue to use code from Owncloud. Accordingly, NC is pulling code and features from OC already.
āAn exchange of codeā as you described on the other hand does not take place, as you will not find NC code in the OC repo due to reasons elaborated above.
NC Devs have committed themselves to do a drop-in replacement for OC - I just donāt know for how long.
It is however thinkable, that at some point in time in the future OC development will take a turn that NC does not want to go along with.
(DISCLAIMER: While re-reading what I just typed, I have to admit I sound like stating absolute truths here. This is why I want to emphasize again, that all of the above is only what I think I understood. If Iām off the right track, may someone more knowledgeable than me step forward and correct me, please. Thanks in advance :-))
Edit:
P.S. I appreciate your cautiousness about what you deem a sensitive topic, but from my experience, everyone I have talked to so far is mature enough to handle the subject level-headedly and easy. Alas, not too much worries 
A migration path has only been promised from OC 8.2 and OC 9.0. I didnāt see announcements for OC 9.1 or other. Itās probably too much work to provide migration paths for more versions.
The development is going to be more transparent for normal users once a release schedule and feature list are provided: Is there a release schedule for nextcloud?
As per @John we can take any code from ownCloud atm.
But @jospoortvliet might have a better answer soon to this
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So the gist of what Iām getting is that this is going to be similar to the OpenOffice/LibreOffice scenario, where LibreOffice is able to (and will continue to) draw code from OpenOffice, but the other way around is not possible. In this case, Nextcloud is LibreOffice and OwnCloud is OpenOffice.
So: as a user, can expect to see the Owncloud 9.1 features in a soon-ish release of Nextcloud?
About the ādrop-inā migration from Owncloud to Nextcloud, I think itās great for both users and devs - devs get more users, users get an easier time - but I do understand that thereās a limit to that. Personally, Iām already on Nextcloud, so thatās a moot issue for me.
My personal opinion is that Iām glad Iāve gone with Nextcloud for this, as the situation above means that Nextcloud will almost always have a features that are a superset of what Owncloud has.
Most likely
This is mostly about the enterprise featuers, which are closed-source on ownCloud. You can only read about those in the public docu, This is somewhat crucial at the moment, so I wouldnāt expect too much other things coming with the next nextcloud, than owncloud 9.1 has, but it wont be an empty list, promised 
So youāre mostly busy reimplementing the enterprise features in open-source code, which is totally fine by me. My questions were mostly to do with what I can expect as a user to be the relationship between OwnCloud and NextCloud, and not to hurry you along in developing features specific to Nextcloud 
Take all the time you need to work on the features you want.