The development community will likely side with Molyneux on this because ... he's not unique in the industry. Everyone has worked with a Molyneux. Everyone has had multiple managers that have over-promised and under-delivered. These types of developers exist in the thousands. They're usually not lying - which is saying things they know to be untrue - they are embellishing and exaggerating because they are genuinely excited about the project and product. They are usually the most enthusiastic people on the team. They always want to do crazy shit that's outside the scope of the project. However, most of these people are kept in check by PR or publishers. Though not always. If you knew how many times a Director went out onto the stage and talked about a feature the team wasn't planning on doing - your jaw would be on the floor - because it happens all the time. We're in a creative industry where people want to be as crazy-creative as possible - but are ultimately limited by cost, scope, publisher oversight, etc. When our vision is cut short by those limitations - it doesn't make us liars. When the limitations of doing business force changes to the vision - that doesn't make it a lie.
So yes, we constantly say things that will ultimately (and even likely) not be 100% accurate by the time of release. And to see someone be dragged over the coals for it - and see gamers cheer for it - is absolutely terrifying.
One thing is what you say, another thing is when you keep doing it time and time again, even when people call you out on that each time, even when you've become a joke of what you once were, even when you're trying to get money from your own fans to back a project and relying on your street cred.
He's lying, not overpromising, he lies a bunch of times in the interview as well, contradicting himself in the span of a few minutes. Anyone who's NOT a pathological liar like he frankly appears to be, shouldn't really be worried about getting such an harsh treatment. After 20 year he had it coming, it's a mystery why nobody asked him the hard questions after B&W, Fable, Fable II, Fable III, The Movies, Milo, Curiosity... we had to reach Godus, a crowd-founded game, to have someone ask him what needed to be asked.
Besides your whole point is "every developer does it"... you know, THAT is terrifying me as a consumer. You think that's a healthy thing? You think consumers deserve such a treatment? You think developers should get a free pass on this stuff?
I think people should be called out on this stuff as much as possible, maybe then your directors will STOP making promises on stage they can't afford to make.