However a few things, the general industry perspective went like this:
1. David Katzenberg and Meg Whitman were creating a consumer service targeting a demographic they don't fit in a field they've not worked in. (Consumer apps for a younger demographic)
2. They got 1.8 Billion in funding. For fuck's sake you should get one breakout hit piece of content from that. (Note Apple is struggling a bit with this one too). With the funding, hype and content they've spent on the expectations are going to be pretty damn astronomical, they brought high expectations on themselves.
3. Their entire premise was based on this concept of quick bites of content. With an almost 2 billion dollar war chest the right thing to do would have been to test this theory maybe? Roll out a single show first, backfilled with some news? Get some feedback maybe?
Quibi is led by some serious heavy hitters, so its not spoken much out loud but I think a lot of folks in the industry felt this play was based mostly on hubris and now there's a certain sense of schadenfreude as they start to flail.