It's a comment echoed by the Cynical Brit in his video. It's an indie studio. An indie studio making their first game. You expect them to make promises about the game. You expect them to try to keep some of their promises, but end up having to cut corners in one way or another that would most likely have lowered the quality of the overall game, and possibly make it suck. The things the developers promised in Magicka are all there, and actually worked, and to a fantastic degree.
Also, thank you for conveniently leaving that part out in your little rant.
On another note, does anyone know what the second element is for the Rain magick? I think it's Air, but I can't seem to get it to work.