That's pretty much exactly how it is.
Steve WAS Gems TV / TGGC - and whilst it was never perfect under his watch, Steve wasn't afraid to listen and change things.
Then he tried to expand far too quickly by breaking into the States, and India - plus selling in stores (Selfridges?) and Virgin Atlantic flights - and then when those didn't take off, he got bored and moved on to Primal (then got bored of that too and moved onto his other new projects).
Once Steve got bored, Colin Wagstaffe (and failure everywhere he's worked) came in to run the company and comoa y shares were handed to employees, it all went downhill rapidly - to the point where, in my opinion, the business/brand is damaged beyond repair.
I've said it before and I'll say it again, I don't think Gemporia will be around in 12 months time.