At the risk of following on other conversations... In my opinion the reason that you have seemed to misinterpret this is due to the level of CMS'ness you use WordPress for.
At a mid-to-enterprise level, having 5 individual releases release's in 16 months (not including security / bug fix upgrades) is simply way too much - especially given how much changes in each one.

Chris, like many of us, is ecstatic that security vulnerabilities are fixed and released ASAP. It's the additional releases as well as security ones that really start to cause hassle.
In the 7 months & 20 days since 3.1 was released, we've had 8 releases of WordPress. 8!!! That's a release once every 29 days so far this year.
That’s not sustainable past a certain point, and that point is different for many clients/businesses (purely anecdotal evidence: 2 of my big clients, and 2 medium clients this year have asked to be migrated away from WordPress to avoid just this).

Chris also headed the last section "Security & Support Concerns".
It's not just security. Each time there is a WordPress update to the backend UI (/wave flyout menus - 2 changes to workflow of Admin UI in 2 releases - mental) all training documents and manuals need to re-edited to match the new UI and workflow. Non-tech savvy people then need to go through some for of training (even if it's just an e-mail update) to inform them about all the changes. That's not a small amount of work, and something that people forget when talking about upgrading - it's not just clicking a button and magically everyone knows where everything is and how everything works.

Obviously we all love WordPress, but realistically it's very "CMSlite" - especially compared to the alternatives (Drupal, Joomla, Umbraco, Typo3 etc). The ability to knock out a micro-site or community site in English quickly is wonderful in WordPress. As soon as you want stability or extensibility of data, it's ability to match the competitors on this front drops quickly.

If I may give another example close to home:
e.g. We've had Custom Post Types in WordPress since 2.8 - June 11, 2009 - and a UI for them since WordPress 3.0 - June 17, 2010 - but in your last 2 plug-in review you've raved about how they use Custom Post Types because its so new/unexpected/rarely-used. And you're not wrong !! Right now, the data isn't that extensible - or if it was the Custom Post Formats that were part of 3.1 would have been an Akismet-esque included plug-in as originally discussed.

CMS's aimed at non-bloggers/small-websites simply don't work well acting the way WordPress does. And that's ok, its clearly not the market it's aiming for, but lets not get defensive of WordPress every-time someone points out it's faults :)