****ty thread.
Firstly, a lack of technical progress almost always comes from management. It's not developer fault if they don't work effectively – it's up to management to make them productive (or fire them on the way). Firing the scapegoat aftermatch won't do anything – at best it will only make the situation worse.
Secondly, I think that it's going well and they get M&B2 formula pretty good. The game is still mount and blade on steroids, the mod support is one of priorities, the patches came fast and fixed game to the point where it's playable.
I mean, compare it to well known disasters like, for example Duke Nuke Forever – which lost it's formula during one of engine changes.