Normalizing the expression to «some people already don't want to admit to working there», you get a pretty basic truth, that products change and enthusiasm in the project contributors swings accordingly. That is surely not eliminated by the idea they can hold, "Yes but the product is popular": popularity does not fix projectual lacks, it is not necessarily valid as a consolation. Some will try to steer the culture and encourage fixing the fault, some will be just embarassed.
Some members here are noting that this piece of news about going public may exacerbate some of the faults (i.e. toxic hooking) - some presume that this will put more weight on the idea of maximizing revenues, psychopathically ("Whatever it takes").
In fact, gambling has some people «spend hours on a day», and you cannot suppose that "developers of gambling machines will be proud". And this is very relevant to a number of current social networks. Spending time is not a value - investing time is.
You can safely assume that many people will not be proud of participating to a dubious product.
You can not even assume that one in general will be especially proud of wide adoption - the weight given to "general/generic approval" is a personal variable.