That really seems like a stretch, whatever you think about Diaspora, every point he made is absolutely right. They have no code, they have 000's of people watching them and they have 4000+ people who believe they should have a say in the development process.
If someone asked me up front which I would prefer to work with, 200k in money and 4000+ who all have a 'right' to be involved and their hand on a different piece of the elephant, or neither of the above....The answer would be easy.
That equation would be hugely different if I had released something already and those 4000+ people had their expectations driven by that....