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You are wrong about pretty much all of that, including your assumed reasoning for why this is happening. Jay chose to change her role so she could do deeper work on the technology. That's it.
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The issue is that no one really believes the corporate speak any more. Bluesky does not get a pass on this, re: VC funding

I have concerns about one piece of messaging I've seen lately, working on a writeup, stay tuned

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What's fun about it?
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It's like seeing your kid learn how to walk. They'll fail a couple of times, but they'll get toughen up and finally learn.
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