if you follow the "cash flow" boils down, he collected all the money for himself in order to "high quality assets" to invest ... to have a good life at our expense
"Good life" is a bit of an overestimation. Per the last payout post, there were 2737672 assets paid to; given a price fluctuation of 0.07 to 0.1 NXT per asset and about $0.01 per NXT that's only roughly $2000 - $2700. We don't really have any way of knowing how many buyers may have been sockpuppets but it did pay out some money to some people at least so those numbers are high at best. Point being, I've seen Kickstarters regularly raise 4, 5, even 10 times this amount. A scam probably, but not one to retire on.