Yes, i guess that's somehow it.
The main supporter for paycoin, XPYio, is going to leave the ship. Only the third party that owns/maintains Paycoin, XPYDev, is going to continue on it.
There's no trust left from XPYio to see XPYDev succeed in their goals, except for them to dump Paycoins onto the market (imho).
At least, that's the info I extracted. I'm not related to either parties, so these are just my words.
So, at last, this is final goodbye to Paycoin for many - including me (sold months ago). It've been a hell of a ride - downhill mostly though - except for the community people, they're awesome