As a guy who has zero skin the game (I have never played Star Citizen or played any of Mr. Smart's games), this is exactly how Mr. Smart's blogs came across to me as I read through them. It feels like he is pissed off that Roberts easily procured millions in funding to make the game Mr. Smart always wanted to make but couldn't, likely due to lack of funding. It almost feels like deep down he is pissed at himself for not taking advantage of the opportunity but is projecting it on Roberts.
With that said, could Star Citizen's crowdfunding be the gaming industry's equivalent of a Bernie Madoff Ponzi scheme? Perhaps but I feel it is unlikely. It will be interesting to see how this turns out.
Blogs are a great way to prove a state of mind, if there is a legal character that a person want's to present and build ahead of time they would do so effectively with a blog, since it could be said that they were risking their reputations and that would validate their character in the eyes of many. It's also easy to vent emotions on the internet, if that is what he is doing it would make the character all the more believable. I'm not saying with certainty this is the case, yet any intelligent person who is also a scummy businessman would do this, and this has been done before. It all really depends upon how intelligent Mr. Smart is, and his agenda. He is smart enough to convince a small group of professionals and investors to be a "rescuing CEO" for a company.
I likewise hope it's not a Ponzi scheme, because if it is I would then be willing to put my support behind tight regulation of the video game industry.
I watched the video, I would say that it seems that Mr. Smart is more of a business man than a game designer, which it looks like he's scheming already on steam, i'd expect him to scheme some more...now is he scheming like his public internet persona says? That is a very important question we need to watch for.