It is sad to hear stuff like this. ASIC resistance coin has a lot of potential - especially if we look to the future. Further centralization of bitcoin (and litecoin is on the same path) is inevitable.
Being ASIC friendly is what can keep the price down in long term. ASIC friendly coins are really close to the Ripple model.
Where ASIC companies don't sell miners (no ROI = no customers) - but are able to generate free for them coins (just like Ripple) or almost free (Bitcoin and especially Litecoin).