You can distill it down to this:
BFL knowingly made fraudulent representations about the performance and delivery of their ASIC hardware to generate sales. Fraudulent representations were continuously and repeatedly made by Josh to keep the flow of order money coming in until the company could cure their default and actually ship hardware. Delivery actually occurred more than a year after the original promise dates if some reports are true.
Josh in particular would regularly promise shipments would begin in 2 weeks when it was definitely known to be false as silicon fabrication schedules would make his statements impossible.
Josh, as an early adopter of Bitcoin should be enormously wealthy, and a very happy camper. Instead he is filled with rage because essentially everyone in this community considers him to be lower than dogshit.
Personally I think someone who made a large investment in BFL could make a compelling case for damages resulting from detrimental reliance upon BFL's public statements. But I was never stupid enough to spend a dime with them, so I don't particularly care beyond the entertainment value of the whole soap opera.
Good summary, and captures my posture with respect to personal interest as well.
I would add to this the way Josh went over the top on trying to FUD his competition. The only similar competition was ~cablepair who was also running a scam with nothing to back it up early on. He didn't get as far as buying some tech eventually before going tits-up which is the primary diff between BFL and his gig.
The one that I though funny was how Josh was totally dogging on Avalon. Yifu and company mostly just ignored the increasingly hysterical fuck-head and moved forward to meet their targets. Small wonder that everyone with an iota of comprehension considers Josh 'lower than dogshit.'
Everything BFL has touched from FPGA upwards has had the same characteristics. Absurd over-estimates of specs and delivery times and a raft of unhappy customer-victims. Watch how Josh tries to re-write history and claim some great success with FPGA (which originated out of a crate of obsolete surplus chips.) He knows that almost nobody is going to try to wade through the thousands of pages of complaints that BFL has generated over the years to confirm anything so he feels free to lie and invent with impunity.