I understand this a little, but Mango is fine, it is a really good OS. I would be/am more concerned that they aren't shipping with 8107 because of how freaking annoying the disappearing keyboard is. It would piss me off if I was a new adopter.
With all the rumors that the Windows 8 kernel is going to extremely efficient, I can't believe Microsoft injected doubt that all products would be updated. I bet they are regretting even mentioning something like that because it has made true fans nervous when there really is not any reason to be.
I feel that the aspect of this article that is true is the release date of Apollo. People have mentioned that Mango is lacking in areas like high end processors, and high res displays which is true. Microsoft, even in the third quarter of this year, will be half a year behind Apple and Google in that area. In Q4 of 2012 it will be 1 year since Mango's release date and 2 years since the release of the first vanilla phone. There is almost no question that if Microsoft wants to stay competitive they have to release Apollo at the end of this year and there is no reason to believe they can't. Mango came 11 months after vanilla in Sep 2011, Apollo can come in Aug 2012 if they need it to and I believe that is the truth of the matter.
And to the comment about Microsoft releasing software late: I disagree, the release of the preview, beta, etc for Windows Vista, 7, and 8 have all been within about 1 month of one another in their various years, not different enough to avoid accurate predictions about Win8 release times.
Finally, I would say that the primary reason they are being quiet and tightlipped about Apollo is because they don't want it to interfere with the Lumia launch. If they were talking about how awesome it will be with a release date a year or year and a half from now, it wouldn't impact Lumia sales at all: who is really going to wait a year? You could save a few dollars a month and afford a new off contract device a year from now, but six months? That seems a little close.
Last update: I would say the price tag is their defense as well, it is 100 dollars, new Windows Phone 8 will probably be 200 is my guess.