Yeah as some others have mentioned that is the textbook way to defuse a problem; by admitting it and throwing yourself at the mercy of the courtI would take a developer with courage that say, "Yeah, we fucked up." than one that come with bullshit like "We cut content but the game will be totally fine people, trust us!", please we aren't idiots and we aren't children, trust is a two way street, if you don't trust your customers with really important information, do you think they will trust you? What you say may even be true and trying to do this content no matter what might actually harm the game like the tons of token features PoE did, for example, but the trust was already broken.
Torment really needs to be an above average game, worse than the cut content is if even after all those sacrifices and broken promises, the end result is another lukewarm by the numbers RPG.
I have done it always and it disarms people because you just put the truth out there so they see you are at least upfront with your fuckups
Fargo didn't because honestly he is more of a "nothing to report" businessman and even though I admire and respect him a lot it does comes across as a bit deuchy
In all honestly this project has been one fuckup after another so I think that giving more explinations would only cause more headaches so they conveniently forgot to address that and just eanted to get the fucking game out...maybe it will be good enough and all will be forgiven and maybe not