<So did NOVC management always have shareholders' best interests in mind?>
IDK. I believe mgt acted in their own best interest. I'll let you draw your own conclusions as to whether that coincided with the other shareholders.
Iggy sold his shares - according to public filings (but not according to PB3). He wasn't a shareholder anymore. Ditto with other directors. So, why would you hold shares when the directors weren't willing to?
Several CEOs came and went - they didn't leave because they saw great things ahead.
They (the directors and mgt) told you what they were doing. Were you listening to the pied piper instead...