This is a pretty shitty apology. The key problem is that ekjp isn't owning the failures directly. Just look at the language in the post...

"We screwed up." "We haven’t communicated well..." "we acknowledge this long history of mistakes..."

This type of language shows a lack of ownership and accountability of the author. It's a huge red flag. If one of my employees wrote something like this I would never have accepted it.

A good apology would have started with something like, "I am sorry." Everything that happens at a company is ultimately the CEO's responsibility. The language used in ekjp's apology does little to reassure me that she actually feels like she owns the failures.