Possibly. It is definitely notable that a CEO of a web product of this scale made an announcement that is essentially saying "Either myself and or my employees

Possibly. It is definitely notable that a CEO of a web product of this scale made an announcement that is essentially saying "Either myself and or my employees don't actually know jack shit about how to run a large scale web product". The problems he pointed out are the kind of things you hear in questions in a mid-level swe interview.