If you found a company with the tagline "Our mission is to strengthen the open source Godot ecosystem", speak for Godot, get $8M dollars of funding, and have nothing to show for it (allegedly) for the project then I think the Godot contributors have every right to question what happened to the $8M. And they would care because by contributing they've invested their time and effort on the project.

I'm not familiar with Godot or if the things mentioned in the post have any real merit but reading it as an outsider it's at least not obviously nonsense.

Maybe not fraud or owed anything in the legal sense but does seem crappy if they wasted the money.

Reading Juan's twitter it does seem like the $8M is for W4 games and is not an extension of the Godot project. I still do think it's a bit sketchy that project leaders make a company revolving around their open source project, and then ask for money separately for the project instead of using the funding they got.

EDIT: After a bit of checking, W4 games does seem like they fund Godot as highest tier sponsor: https://fund.godotengine.org/ Which means they must be using their seed fund. The author is probably angry without properly researching things.