Yeah, there's more to it than that. Gorhill started it as a free and non-profit solution to help. He gave a lot of the credit to people maintaining the block lists. When he got tired of dealing with it, he transferred maintainership over to one of the devs that showed interest - chrisaljoudi. Who promptly started to monetize it. Like how he stripped out the "No donations sought" part of the readme (https://github.com/chrisaljoudi/uBlock/commit/f256801344a517...). And many of his changes were done to make his own contributions seem far larger than they actually were in order to encourage donations.
The majority of chrisaljoudi's changes are churn to make the project look busier than it actually is. For example, many changes are just committing checksum updates (https://github.com/chrisaljoudi/uBlock/commit/bb340ac92cc6a8...). Which is already done internally from uBlock. And then there's the removal of other developer's attribution. Which he thankfully stopped after everything blew up. Or his personal site which initially gave the impression that he was the sole creator of uBlock. There was a lot of online drama following it after the maintainership was newly transferred (http://www.reddit.com/r/programming/comments/33sl39/maintain...). I know Reddit's not really an unbiased place from which to review, but there's plenty of links on there.
I'm sorry, but people who ignore the contributions of others and immediately scramble for donations (https://donorbox.org/ublock) the moment they're made lead maintainer don't really give me a good impression. There's been a lot of discussion over the inflated amounts of those donations (http://www.reddit.com/r/linux/comments/39quzj/chris_aljoudis...). He's cleaned up a lot of the problems people complained about, but it doesn't change the fact that his first priority upon receiving a position of authority in a large, free, open-source project was to strip out attributions and solicit donations. I'll give him credit for backpedaling and reforming, but not much. It's easy to apologize when you got caught.