If you fail to see it, then I'm left wondering what your experience has been with vendors like BFL's fab. In my experience, they misrepresent themselves so consistently that your only option is to not trust what they say. I think BFL's issue was then trusting a vendor they had no prior relationship with, a failure on their part, but one that is easy to see how it happened. I personally have been involved in a project with a pretty similar outcome, where our trust in such a vendor ended up with 0 product on launch day. That experience has it so that I always have checkpoints early and often in my projects with these vendors, and even with new employees.
BFL sure likes to blame the fab since being unknown they can't come here and defend themselves.
The conversation probably went like this:
BFL: We want to do a fully custom ASIC.
Fab: Have you ever done ASICs before?
BFL: Sure, we programmed FPGAs. That's the same thing, right?
Fab: Uh, no. Very different.
BFL: Well, how long will it take?
Fab: Someone with experience can do it in 6 months, but since this is your first attempt, expect 1-2 years.
BFL: Ok, great, thanks.
BFL to public: We'll have a finished product in 6 months, guaranteed! The fab said so.