For sure. Because GAW completely controls the price of LTC, BTC, and scrypt difficulty. Seems legit.
No, but GAW controls what risks are disclosed at the time of investment/purchase. And if you want to go that route - even LTC mining can still be more profitable than 1 satoshi per MH/s with the oldest available Scrypt ASIC (Gridseed). So how does that match with the "never obsolete" claim?
Correct. GAW fucked people over pretty badly on this. I don't even know what the fix was/is supposed to be. Amps? Allowing 1 week of HP mining? Allowing conversion to stakers?
That doesn't follow the "obsolete-proof" promise Josh made. He should have done something, out of pocket, to make it right. His lack of foresight caused this.