It is his money, we can think anything but you have to keep that in mind. I think he would have to be crazy to sell now that the price is low unless he knows that Steem and Steemit are going bust, something I don't think will happen. What I think is that he is taking out some of his money and investing it in some other opportunity, which to me sounds reasonable.
He doesn't have to be transparent with his money, but I do agree that sometimes STINC doesn't update enough and sometimes appears to not worry about issues that happen around here at least on a weekly basis.