It's easy to read the first page (or just the headline) and come up with the "you're not paying enough/your problems aren't interesting enough" response. That's what pretty much everyone who's posted here so far has said. (And that's what my initial reaction was, too.)
But that's not a terribly useful reaction, and it's especially not a terribly useful one to be posting here, where pretty much everyone agrees with you already.
First, this guy understands (or at least claims to understand) a lot of the points you're all making already, and describes some of the steps he's taking to address them. (Mostly on pages 2 and 3.) Maybe it'll work for him, maybe it won't; I know far too little about the details to have any idea. In either case though, repeating the same "more money/interesting problems" thing over and over doesn't really have any effect.
Second, some of the problems he's having are actually real problems. Any company that's been around more than a few months is going to have existing systems, and it often doesn't make sense to rewrite the entire thing every time you need a new feature...even if the existing system is a bit ugly. As a programmer, that's an important thing to understand, and it's something people who don't have a lot of practical programming experience aren't necessarily going to understand. Knowing that this is a potential issue is something that can help you both as an employer and as an employee.
edit: I'm not saying that this guy actually knows what he's talking about, and that the things he's doing will actually fix the problems he's having. I'm saying that reactionary "this sucks" responses aren't very useful, especially here.