I believe the article said an Intel Media executive without mentioning names. If it is Huggers I would not be surprised as the prospects for the Media Group don't look very good. The complete strategy was naive and misguided and the Media Group handled the press badly. The group should be shutdown.
However, the cost of the effort is relatively small by Intel standards, a couple hundred million but certainly not in the billions or even multiple billions. It's a non-event from an overall financial perspective but it is unfortunate the Media Group believed they could do succeed going it alone and didn't start by assembling strategic partners from the beginning. As a background technology supplier role this effort could have had a very different outcome.