Except that the IotD in this case isn't Nomura, and isn't even "Of the Day" anymore; it's Square-enix for announcing a game way before they actually started serious development (they actually started serious development as of like 2 years ago or some such.) They announced it ludicrously early, which Square-enix, at least for a while, had a knack for doing.
Really, your entire argument is "8 year dev cycle, IT'S STUPID BECAUSE OF THIS!" That'd be the case if they were actually working on the game during those 8 years, which they very clearly were not. There's a reason people legitimately believed the game was going to be cancelled at one point, given all we got were 2 useless trailers, and the last one came out before Dissidia was even released in Japan, IOWs about 5 years ago. You'll notice we got our first glimpse of anything resembling gameplay and stuff that wasn't action sequences at E3 this year...probably because they actually finally started working on the damn game.
So yeah, can't say I can get behind the IotD hype at all; honestly comes off as a cheap shot at Square-enix.
You'll notice it doesn't say he's doing what either did. All it says he came in the next morning saying "Hey guys, we should totally do this idea!" and they just went "That's a bad idea, continue what we're working on."
Sorry, but you both are blowing this out of proportion. Read the actual article; he didn't say anything like you're claiming Grefter...at all. It just says "he showed up, had the idea, everyone else talked him out of it, they moved on."