First of all, I don't think he's ever said he won't be able to cover the refunds.
He's certainly trying to maximize revenue before Apollo is done. Nothing wrong with that.
This is also the second time (at least!) someone has thrown out that spending money that can still be refunded usually isn't allowed in business or is illegal; it's not.
When an annual subscription order is placed, GAAP would say the amount of the subscription should be credited to advances and debited to cash, and each month 1/12th of the annual subscription would convert from advances to revenue. You don't need to wait until it is recognized as revenue to spend the cash, as was implied.
It certainly prudent for a business to ensure that assets exceed liabilities, that much is true.
I find it interesting that some believe he's a multi-millionaire and must have $3 mill in the bank and can over the refunds no problem and some believe he can't cover the refunds. I think the most reasonable assumption we can make is that he is trying to minimize his liabilities, like any business does.
Finally, I'm not sure why the dig about Christian being the only one who has mentioned this. Frankly, not all other Reddit apps are going to be affected; RIF - as I understand it, anyway - made money from ads, not subscriptions and so doesn't have this problem.
I'm not sure how Sync/Baconreader/the rest of the apps that shut down made money - but anyone without annual subscriptions avoid it.
And I'm guessing most of us around here don't hang out on the sites they might discuss the issues the Android app makers faced and why they decided to shut down. (If anyone has insight into that, I'm curious to hear).