The idea that they are limiting the intelligence of the AI to allow bigger battles- and let's point out that they have never mentioned figures anywhere near800 vs 800, just to try and stop another myth forming- is baseless; any failings of the AI will be due to the limitations of the developers. Regarding cutting features; we only have their explanation on why they did it, but it is perfectly plausible and surely the reason why most features get dropped in the development process of a game- obviously they didn't think it was a good idea to include those features in the end. Features being changed or cut completely happens in virtually every game development process, so yes it has obviously not been a smooth ride from start to finish (whenever the latter may come!), but they've been clear with us that the development process hasn't been without hiccups.
If, in an alternate universe, they had made Warband without Paradox publishing it, then it would be a worthwhile comparison, because we could see how the development time and final product differed. Bannerlord however is a different project to Warband, they wanted to improve on all the weak aspects of Warband and so wanted to have a bigger team. If for some reason Taleworlds had been forced into needing a publisher, they may have made Bannerlord sooner but it would have been either far less ambitious or riddled with bugs and balance issues. Speaking of which....
To a degree I share the worry that it could have a lot of bugs at release; that is, if they don't have any sort of pre-release large scale public testing first. I don't see how they can expect to test for bugs and balance issues without the vast playing-hours and input of experienced M&B gamers, for both singleplayer and multi.