Ok, but you'll agree that sine die freezing those funds precludes from spending them on development, right?

I see the point, but I notice that Steemit Inc was simply Ned's proxy. Promises made by Ned would bind him directly, and not just the company. I highly doubt corporate liability limitations would apply to adequately shield him away from his promises: The "contract" in question is informal enough and unspecific enough to consider it was agreed by Ned himself, not just by him acting exclusively in representation of Steemit Inc.