I think that the even better quote is that Spartsn is a small game company that is trying to figure out how to be a big one. Or, as I like to say, it's a business being run as a hobby, where game companies that are successful long term are hobbies run as businesses.
Overall, while I have some quibbles with what was said (DW 2.0 is a big improvement IMO), I agree with many of the critiques that Alex, Oliver, Nathan, and Lange brought up in this episode. Spartan has indeed tended to over-promise and under-deliver, missed a lot of opportunities, and not been very forthcoming on its plans for the future. I can't say I blame Alex for wanting to end his association with Spartan if none of his hard work was ever going to see the light of day. In the end, Spartan has a clear pattern of jumping from project to project, and has struggled to provide support evenly across its games. Will that change based on the survey they did and the feedback they have received? Maybe, time will tell.
Even if they do not, I don't see it affecting my enjoyment of their games too much. In this, I find myself in a very different place than the hosts of this show; I remain excited about Spartan's games, especially FSA and DW, and I'm looking forward to playing in the events planned for Adepticon.