The "least bad scenario" I read is that if we assume the money was lost through "well-intentioned but incompetent bumbling" then nevertheless the company "lied,

The "least bad scenario" I read is that if we assume the money was lost through "well-intentioned but incompetent bumbling" then nevertheless the company "lied, constantly, about how carefully it was keeping track of risk and customer money". They were supposed to have automated systems to instantly liquidate margin positions like Alameda's so FTX wouldn't lose money. Without favoritism or human judgement. Now SBF is going around apparently saying "aw shucks, I made an error in judgement and also in arithmetic". Ok, noted, but that shouldn't have mattered?