Actually, I'm pretty sure that the math on this one doesn't lie. 700 BTC > All Possible commission profit.
Then must be some reason for not releasing that has nothing to do with commission.
This is exactly what I've been saying. The only reasons, that make any sense, to turn down such an obvious route to profit would be if there were either a) more profit to be made from shady code running on the device, or b) the code running on the device is in some way illegal to use or release in the first place.
Does not have to be illegal or shady. Could be ASIC of his own. If I can afford ASIC run, he can, especially if he has mined many bitcoins with improved bitstreams. Could also have access to better FPGAs with more gates that better to suit algorithmic approach.
Think if BFL mined instead of selling.