Sounds to me like you aren't willing to stand behind your product, which is clearly broken. It was released with a large number of bugs, many of which still aren't fixed. People still can't really reliably play 4v4s and 5v5s (evidenced by the fact that you only recently dared to make pantheon 3v3.) You promised you would get these bugs fixed and its been over a month. What do people get for trying to support you and stand by you while you attempt to fix things, they get screwed.
People who pre-ordered the game paid more for it and Frogboy backed out of trying to remedy that. People who didn't immediately return it at release aren't getting full refunds now. Since when is Demigod satisfactory? Favor is still broken, the game still desyncs, the game still crashes, and the patches that were susposed to fix these issues and many others didn't.
Worst of all, you guys are giving us a 50% coupon for another copy of a defective product (which was never actually sent out.) So people who supported you early get screwed again.
Not giving people a full refund because they can technically play online in this trainwreck is against your Gamers Bill of Rights, releasing a game unfinished is against the GBoR.