Yeah, heard about this. Even listened Fredrik Knudsen's 4 hour livestream where he read through the document. The document seems to paint the picture of Michaud as a control freak who's deathly afraid to lose a single drop of power, or "selling out" by hiring professionals to run the company. So he has to resort to shaming and intimidation tactics to keep a grip on the thing. Doug Walker seems like an obliviously happy idiot in the middle of all this, who's so happy to have had his ego stroked for years on end that he genuinely thought a nearly 4-hour, no-budget amateur film (meaning To Boldly Flee) that's completely incomprehensible to anyone who's not familiar with all the creators once on the site, would be something people would want to see. To hear the production of every anniversary movie was an ineptly handled clusterfuck as well only drives that point further home. Not to even speak of Demo Reel, Pop Quiz Hotshot or all the other shit I never watched, but which seem only tragic in retrospect.
I don't think they're going to bounce back from this. Michaud doesn't seem like the type to handle any sort of criticism well. Doug Walker is either going to plug his ears and keep on as usual, or leave and start a show called Shmoshtalgia Shmitic. I now seems tragic that when Chris Stuckmann got featured as part of the site, it was seen as a major expansion of outreach for him.