I was wondering why the big boys like genesis mining do GPU mining instead of ASIC mining why you guys think? may be less profitable but more reliable in the long term?
Actually this is not so true.
As you said there are some big players running a GPU farm, genesis mining is probably the biggest. They do not have to talk with ASIC producers, they can rely to known companies, they have warranty on components.
More importantly they are way more adaptable to mine coins, they can switch between many coins whenever they want.
Most of miners are still using ASIC, they are simpler to use, require less effort and managing time. Personally I hate ASICs.