I think comparing Mount and Blade development to anything related to Digital Homicide Studios is 'a tad unfair'. I followed Mount and Blade early on, and they presented a game that was clearly in development with solid progress being made on a fairly regular basis. We could see the progress, follow along, and see a pretty decent roadmap of how it was (and did) improve. They were a team focusing on one core product, and what was presented to the users was a group who were keen on improving and delivering a quality product. Sure, it wasn't a super highly polished product, nor was it bleeding edge technology, but they were doing game play that I personally had never actually encountered before (Even since then, has anyone made a game that had nearly as satisfying cavalry and lance mechanics?).
Digital Homicide seems to be all over the place, their wikipedia entry has around two dozen entries, and nothing I've seen suggests they're all that interested in working with their communities and providing decent reasonably well polished fleshed out games.