The article starts off saying it was probably both:
"A company where the president picks dumb products, wastes money, and hires unqualified losers is dysfunctional. A company where the president builds a cult of personality, fires people who criticize him, and hires unqualified friends / relatives is toxic.
After reading The Verge article, it sounds like Telltale suffered from both problems. They were dysfunctional in the traditional sense of making lousy business decisions, but they were also dysfunctional in the more specific sense of being run by one or more jerks."
Maybe Apple managed to survive (thrive!) despite of the jerk, but that doesn't mean one wouldn't bring down a company on a less robust standing that may have otherwise still managed to keep the right trajectory.