Hashparty was nice enough to set up a pool to do the premine. The idea was to do the premine with real blocks and no "block 0 reward". This allowed us to have a taller and more durable chain on release. I think it worked well except that some people that are somehow offended by it. The pool got a bounty for setting it up and nothing more. The funds are being used for additional bounties and exchange listings.
I would not be offended by a transparent and clearly announced premine. I was offended at finding that without any explanation, and only after I had invested time mining and exploring the coin. And having someone explain it after the fact still seems suspect, as you can say anything you like at this point to explain it away.