TLDR: "Welcome To Flatland" is Valve marketing and it doesn't hurt to take it with a grain of salt.
https://www.pcgamer.com/valves-flat-structure-contains-hidde...
https://medium.com/dunia-media/the-nightmare-of-valves-self-...
In hindsight, seems smart to pull the plug so far in advance.
I'm sure the complaints about informal power groups, careful politicking being required and gaurded groups are true... if only because that's true in every office I've worked in.
Not knowing the product, this looks like it may be a valid interpretation; could another be that the project would be more likely to succeed with the commercial backing of a company like Valve?
Edit: I can't edit it anymore. Was going to change it to "Based on this limited insight, it may have been the best option for both parties to part ways given the project teams complaints and valves lack of interest in the product"
Is that the best litmus test? My impression is that Valve is decentralized and self-organizing company[1] even though Gabe still has a "President" title.
In any case, it's quite an achievement to lie twice in a relatively short title. It's also ironic considering that Coinbase's business model is built on centralizing cryptocurrency services.
[1] "Welcome to Flatland [PDF]": http://dl.pcgamer.com/Valve_Handbook_LowRes.pdf