The worst part for me is that the blog reads like a short story instead of a technical analysis. And, given that it's published via ghost.org, makes me think there's just a bunch of scams and meta-scams going on... one layered on top of the other.
In addition, the tone of the article seems overly condescending to me. I certainly don't want to minimize accountability and the severity of security holes, but in the real world where startups are trying to hastily bring products to market, they are often understaffed and there is a certain reality that can't be denied.
The author may have indeed found flagrant problems but, in even moderately complex systems, there are big struggles with a diffusion of responsibility and a lot that can be lost in translation; for many reasons besides technical ineptitude.
Ultimately there was too much punditry and not enough of a clinical postmortem for my taste. Of course I don't seem to hold the popular opinion here given that my comment got down-voted rather severely, which seems unjustified. Oh well.