I think the opposite: i think that at some point KnC decided to go with 28nm instead of developing 20nm Neptune (at least on time-perhaps they will do it in Q3-Q4).
That's why they are maintaining almost complete radio silence, hoping that this tactics will reduce refunds and they might be successful at accomplishing this.
Instead of developing Neptunes, I think that they are using our funds for datorhall build-out, while using cash generated by the datorhall to fund slowly trickling refunds. In addition, they re-instituted batch 2 which behaves similarly to an equilibrium in a chemical reaction, with all going back and forth on numbers, suggesting that both refunds and new purchases are basically in balance.

In fact, i think that as long as refunds can be covered with the datorhall revenue, they do not care if eventually everybody refunds.
They will have a brand new data center and NO OBLIGATIONS. Sad, but most likely true.