It is relevant in this sense.
The entire open letter is accusatory in tone. They are trying to say that basically JR is tanking the team in order to line his own pockets. (I don't know why they think this considering we have pretty much maxed out our cap space and I am sure that if an owner wants to make more money he would love the revenue that is associated with making the playoffs.)
You make a number of good points. I thought they went way overboard with the whole "Jerry is an old money grubbing fool" routine.
Nonetheless, the letter at least sparks discussion about the state of the franchise and I see that as a good thing.
Jerry brings much of this on himself. He rarely communicates with the media so people are left to speculate about his intentions. And he has had less than a stellar public persona in the last couple of years, starting with the pie chart/come up front darling press conference, to the shots he took in the CBA negotiations, to his role in the recent official's lockout.
I think Jerry is a very good man. Just take a look at his recent efforts on behalf of the Olsens. And this is not the exception for him; it's the way he has consistently conducted himself when someone was in need.
Personal characteristics aside, he has to be accountable for his actions as majority partner of the Panthers. It would be great if he came out and talked about his thoughts on the future of the team and how he sees us accomplishing our goals. It won't happen, but it would be great from a PR standpoint.
There is not a doubt in my mind that many PSL owners are seriously pissed right now. While perhaps this wasn't the best effort or method for one or more of them to express their displeasure, it at least opens the debate and I think that has some value.