Via our good friend Darren comes this developer post. You should read it all because, holy crap, that is how you admit that the launch did not go well. It would take longer to summarize than for you to read it, so I give you this excerpt:
The point is, the issue here is far far worse than many of you think it is. I wish it was an issue of the game being released too early. That’s an easy thing for a company to “fix”. Elemental’s launch is the result of catastrophic poor judgment on my part.
You win back a surprising amount of trust by not acting like the Iraqi information minister. [Commenters say, “no.”]