It is easy to point fingers at a few obvious candidates, but I think the problem goes deeper.
In the Gold era. Yes, clearly Mitch had a problem with hubris. But the problem (in my mind) was the failure to have a strong board that would stand up and force a more viable roadmap. For starters, an early EU partner would have been huge. And of course a more rational US ramp-up plan.
Then we have JJ. A clown. What else can be said about him? But who hired the clown?
So I will place the fault on the failure of a real BOD to run the company in the best interest of the shareholders. I differ from Casey in that I do not think it is one huge HF play, but instead just "croney corporatisim" grabbing bucks for themselves.