Ten Years of Building Apps
lukaspetr.com
lukaspetr.com
The author would claim there are no excuses to be made and that "milking it" is a simple matter of fact.
And some of the people who the author claims were "milking it" would likely do the same: No excuses, after all business is about making money and if you make money (and not break the law in the process) you are doing it right.
Like you said: You don't like it. That's fine. Implying that someone who is smug about choosing anything over money is making "excuses" seems like a bit of a stretch, just as it would be a stretch to claim that everyone who is smug about being successful in business is "milking it".
I guess the lesson here is, that being smug is not very likeable.
The first time you do something poorly it is a lesson. Grace is important, mistakes are when you do something wrong more than once.
Keep this perspective during the rest of your career and you will so just fine and be content when it is time to move on.