I don't think anyone should be surprised to see extremely low (or no) divs until Gen3 rolls out.
The thing I worry about most is if FC is still 100% committed to AM or if he has developed a competing side-business that is unencumbered by external shareholders.
I know FC denied involvement. But the competitor similarities in hardware (Bitmain) and in mining behavior (Discus Fish) remain striking. So I feel we've only been told part of the story.
I've been thinking about this too, but what keeps from panicking too much is the amount of AsicMiner shares owned by Bitfountain. I think that screwing us keyboard shareholders would be one thing, but screwing the Bitfountain ones would be much more messier.