Mark was a kid. Mark was a subpar coder. Mark had too much money at his hands and became cocky about his success.
What could possibly go wrong?

Looking back, I think its worth mentioning that many of the important players in Bitcoin's early ecosystem's development were kids with too much money. Which is probably a good enough explanation for the amount of failure we've seen.
Then again, I'm an old grumpy man and always complain about the young

I'm an old grumpy man and (with the exception of my limited area of expertise)...am a subpar coder.
To run an exchange takes big cojones. A lot of the guys with the skills to do it can earn well - doing less risky ventures.