I've seen this before with startups - devs quickly get thrust into the business side (including fundraising as discussed in the blog post) and they're often ill prepared to succeed in that realm...

Most startups then seek experienced leadership (CEO / CFO) to take over those tasks and get the company to the next level (and the devs are happy to just get back to what they love - coding).

In some cases, Devs don't want to give up "their baby" and try to do everything--and in most of those cases, the company then fails.

I suspect this is what happened to Mutiny...devs just wanted to get back to coding (i.e. "new projects) and weren't happy doing the business tasks necessary to make the company succeed (and were too proud to hand those tasks off to someone else).