I tend to agree with this assessment. Les Otten has a strong history of revitalizing ski areas (and their ancillary hotels/golf properties), and this one just needs a push from the (skeptical as of yet) local goverment.
There are strong bones and history with the Balsams (including Ross, a great old hotel, and the ballot room), and judging by the aerial photos, someone is still mowing the green complexes every now and again awaiting the project to get going.