I think it reads more as a story of what happens when there are factors outside of your control while running your company. They could do nothing about the IBM PC and they even knew that IBM was mimicing their business strategy, and yet there was nothing they could do. IBM couldn't work with them because they couldn't handle the volume.
They knew their end was coming and they all exited the company when they saw what was coming. I think they showed themselves to be much more savvy then you give them credit for.
Today, it would be like you finding out that Google is about to come to compete with you.
They did great, I think. They did an IPO, cashed out, stuck the investors with the shitty stock, gave all of their employees significant stock grants, and went on to live nice lives. That's everyone's HN dream.