“... If you show it in a YouTube video, it looks fantastic. But if you play the game, there’s only three or four minutes of actual gameplay before you run out of things to do.”
I think the business partners meant "only three or four minutes of actual gameplay before we got bored and went back to liquor, restaurants bars and strippers".
On his youtube video, Eric said in comments that he bought 3 passes to a Game Developer Conference, he attended all 5 days, his business partners attended 30 mins and 1 hour respectively.
That's understandable. They did the deal with Sony and they were done. GDC other than contacting and doing deals with 1st party vendors doesn't have a lot of things for the business types.
E3 on the other hand is pretty much all business and not that much tech content. So if they did go to E3 then Eric could have been the one spending time at the restaurants, bars and strippers.
GDC has super short and sweet marketing meetings from 1st party vendors, since they are trying for you to adopt their platforms/tech, the rest (non vendors) of marketing peeps just get bored and go to the restaurant/bar/strippers
30 minutes and 1 hour for the marketing partners probably covered it all.
I do attribute the whole "fiasco" as a lack of experience/knowledge on how things work by all three of them.