I tried to get a quick understanding of what's going on but I didn't because you all suck at making what you're talking about clear.
Why is this game a trainwreck?
The game is taking a long time to be ready.
Some people are wondering why it is taking so long.
Every milestone was missed - the original full release was Nov 2014.
After three years there are only "modules" that don't seem connected and the core (the galaxy) of the game does not yet appear to exist at all. This delay has created anxiety in some who wanted to believe that an amazing game would have a development cycle of a year or two.
Star Citizen employs some 200+ people and therefore has a burn rate of ~2-3 million a month in salaries and overhead.
Someone estimated that there was around 8 million in the bank (so around three to four months if they receive no more monies.)
A known agitator started "investigating" how the money was being spent - it's an easy target since there were and are clear management inefficiencies. Plus every milestone was missed so it's even easier to ask questions like, "What is happening? Why is the game delayed?" As an "industry expert" he claimed that what Star Citizen was going to be could not be done for anything less than hundreds of millions (I think the figure he used was around 200 million? something like that.)
The game has raised ~90 million to date. That's a lot of money when looked at as a lump sum. Most people don't know the cost of having employees. If they are paying out 2 million / month (which is a reasonable and conservative amount it's probably closer to 3 million at this time) that's 24 million a year. Three years - that's 72 million. If there is around 8 million in the bank that leaves 10 million "missing." The number is an easy target for simplified math that can be spun in a questionable manner.
Since the number is large there is a fair amount of... room for "softness" in the budget. This means there is a strong possibility of monetary mismanagement and waste. Chances are they have mismanaged their money. Even if that was "only" 10% of the budget that's still 9 million that was wasted.
Now ex-employees who were disheartened by their experience at the company have spoken out on their complaints. They are being given a platform.
Is it all true? Probably to an extent but is it the end or a total catastrophe? I don't think so. A game like what Star Citizen wound up being is going to take a long time to make - based on the development cycles of MMOs and other large projects. I wouldn't be surprised if it would take some five+ years to complete given the scope of the project. Unfortunately instead of communicating that Cloud Imperium continues to insist that the game is just around the corner and with a little more support... at least that's how it seems to me. I could be very wrong since I don't follow the game that closely. For all I know they could have the stated completion date to be in 2017.