To me it just looks like they're flailing around, trying anything in the hope that it works. There are parts of the game that is pretty solid but without that something extra it's like a bacon sandwich without the bacon.
I don't know what the point was that it when wrong. Was it the original concept? Was it the choice of FTP rather than subscription? Was is the concept of the game as a 'service' rather than a 'product'? Did Matt and the rest actually know what they were doing? Or was it simply that it was too expensive to create something with the magic of the original combined with the technical excellence* of it's successor.
* yes excellence, apart from just after every update.
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