Like a lot of Coding Horror articles, there's less here than meets the eye. Unless I am missing some subtle subtext, the content is basically "Netscape did some cool things, back in the day", to which those of us over a certain age can only reply "No duh."
A deeper analysis of the Netscape case would be a fascinating read. This, however, isn't it.
I think he's going for "Netscape, unlike (my example) webvan.com, did some cool things, back in the day". It's not that it's any less bankrupt; it's not that the Netscape coders didn't work long hours (indeed, see jwz's well-known ramblings); the point is that Netscape left an impressive legacy (in Navigator/Firefox, in a host of highly succesful people, ...). Netscape is dead, but all the hard work was not (entirely) for nothing.
A deeper analysis of the Netscape case would be a fascinating read. This, however, isn't it.