I thought Reeder would lose a huge chunk of it's user base because of the slow update time. The inability to use the desktop app has forced people to investigate alternatives.
Turns out all the alternatives are shit.
...which is exactly why they don't feel under any pressure to update it in a timely fashion.
After waiting longer than I wanted for a Reeder update for iPad I went out and bought Mr. Reader. Works just fine and I can't think of a single thing I am missing from Reeder.