I assume the grandparent post is referring to the staggering amount of cash they've been burning. (personally: who am I to judge - they've clearly convinced investors they're on the right track)
Yes, pretty much it. Useful service yes, but one that doesn't seem to add up as far as those who actually use it enough to make them a profit versus how much money they seem to spend on their service.
I like the part where the Swedish investor stepped up for a product he cared about, took the risk, and will likely reap the reward after the IPO. Great story. Almost an eBay-pez worthy story, but real.