The question is how can you know any of this? You say they are trying to save face, console useless plastic box, loser admits nothing existed. This is either a lot of speculation or there is news that I've never heard of.
Someone admitting that, seems like that would make news considering the amount of hype that's gone into it. Personally I think you just have a personal bias against them (like so many), maybe because your hopes went up only to be fooled by a sour twist. Yet I don't see this JFW situation as a lost cause, I have a gut feeling that this is the NEXT best thing for cfw.
Maybe you just have to be more patient, I mean I'd rather have updates, videos, and pictures than nothing at all. The ones who stick out in my mind are devs like Deank, Team Rebug, RedSquirrel, among others who are considerate to those like me who know nothing about the great lengths of time it takes for devs to make stuff, with news updates and releases.