I don't think this is what really happened at all. The reason this decision was made was because 95% of employees sided with Sam on this issue, and the board didn't explain themselves in any way at all. So it was Sam + 95% of employees + All investors against the board. In which case the board should lose (since they are only governing for themselves here).
I think in the end a good and fair outcome. I still think their governing structure is decent to solve the AGI problem, this particular board was just really bad.
Bigger picture, I don't think the "money/VC/MSFT/commercialization faction destroyed the safety/non-profit faction" is mutually exclusive with "the board fucked up." IMO, both are true