Hi Will:
I would say that the situation is actually pretty open, if still a bit chaotic or disorganised. As you indicated, a core group started things, and for the most part these people are still around and have the power to write checks and so forth. However, it's not as if they rule with an iron fist or anything like that. Most discussions seem to happen in public mailing lists, and the people who have the power to sign checks seem pretty adamant that that's where "decisions" are made too. Personally, I'd like to see a clearer roadmap and mission statement and so on, but I tend to assume that that's coming with some time, not that the organisation is rigidly against change! In the mean time, my sense is that "position" isn't necessarily that important to P2PU.
As evidence to at least consider, here's a course from a central figure at P2PU (Philipp Schmid): http://p2pu.org/general/open-governance ; and here's one that I'm co-facilitating this winter: http://p2pu.org/general/open-governance-and-learning. I don't think this is all "empty talk", but rather, that it all feeds back into the way P2PU works. Here's a conversation between Philipp and Benjamin Mako Hill where you might compare their views and styles: http://ia700204.us.archive.org/13/items/MakoAndPhilippDiscussOpenGovernance/... (I'm just listening now myself.)
I don't really know enough about your critiques to really understand what you take issue with, or what sort of difficulties you've run into. But the way you're talking makes it sound like P2PU took a crap on your table. I suspect that's not really the case, and also that things aren't as one-sided as you made them out to be.
Joe