That sounds harsh but is more or less accurate. It sounds like the developers fundamentally misunderstood the purpose of productivity apps on mobile. They fell into the trap I've seen a lot of others fall into, which is taking a task normally done on a computer and building a mobile app out of it, without considering
why users would want to actually perform that task on their phone.
Expecting someone to create and file their expense reports entirely on a phone is absurd. Most workers would prefer to do this kind of thing at a computer, being on a phone will simply slow you down: lack of a real keyboard, tiny screen, poor multitasking, etc. There's no reason to prefer a mobile app for this task over a desktop version.
Mobile productivity apps are generally best served as companions to existing web/desktop apps. Either to provide access to your data when you're not at a computer (not really relevant for this app), or to improve the workflow of something that would normally require a computer. For example, you might consider it a pain to have to save your receipts so you can later scan them into your computer and import them into your expense tool. A mobile app can improve this workflow by allowing you to immediately take a photo of the receipt when you get it, and having that receipt automatically synced into your expense tool.
Off the top of my head I can name two companies (Expensify and Shoeboxed) that provide this ability. That these guys dismissed their competitors as "heavy and complicated" seems to have missed the point.
Taking this experience and concluding that you shouldn't build a mobile app is simply throwing the baby out with the bathwater.