I can see it being problematic that he was the only one doing it full time. That creates a sense of imbalance.
Weigh that against the fact that other people put actual money in; it seems like everyone had skin in the game.
Time is your most valuable resource, so in that respect... if he was working 2x more than anyone else on the team and they were questioning his lack of commitment... that's just weird.
There's also something to be said for the difference between face time and productive time.