Given that access was cut, then restored, then cut again, then days, then someone finally says "hey were were going to lose critical funding" makes it seem like a post-facto excuse for a hostile takeover.
And the whole "oh, well, we're bad at comms" makes it sound even worse!
Which is the whole crux of the issue. At no point in any of this did Ruby Central do anything reasonable. The they tried to explain that their unreasonable actions were reasonable, if you only knew the things they knew, which they were for some reason unable to tell people until just now.
Could it be true? Sure, absolutely.
Does it seem reasonable at the moment? Hell no.