The key point seems to be that the new owner wants to harvest user data. If I were one of the staff commanded to violate users' expectations, I might also resign in protest.
That being said, sifting that out from the messaging they've presented was not easy. Most of it seems like either posturing for negotiation (e.g. the line "I have code running on two planets," which is admittedly a strong statement, albeit less impressive once examined critically) or just dunking on the new owner for the amusement of Twitter followers and maybe a few people on HN. Regardless, most of it seems to be targeting an audience who already agrees with them, and not to inform and persuade those of us who don't know.
If leaking IRC logs is the tactic du jour, it'd be much more effective if we had IRC logs where the disgruntled staffers repeatedly questioned the new owner about the substantive actions they have an issue with (e.g. harvesting user data for commercial purposes), and either got him to back down, admit or evade. That would tell a story that can transcend internecine organizational politics and/or tribalism. But, alas, the medium is the message, and so we get Twitter dunking.