Man, that's a strange article. In the process of burning through 25M, Pseudo managed to work hard to produce a lot of content-- it seems pretty disingenuous to 8-years later to call it a "fake company" and a "work of performance art." What appears more like performance art is the letter, which somehow tries to pin this all on Jayson Blair and his corporate masters. Weird.
Does anybody with more background on this care to elucidate?