Confab.
Your observations probably reflect a view shared by 99.99% of everyone in aviation apart from microlight pilots.
Bar Shakers post full of bravado and spin as it is surely reflects the dire position of the BMAA unless they can come up with a suitable CTO pretty quickly. He probably actually believes much of what he has written and can neither imagine nor believe that the BMAA's existence depends entirely on satisfying the CAA, not those on this forum.
One point in Bar Shakers post though probably does add to the credibility of the rumour and that is of a shortage of engineering funding. If the BMAA were short on engineering support before the CTO resigned then I imagine the CAA would be most concerned now that he has gone / is leaving and the BMAA not providing necessary funds to ensure adequate and suitably qualified cover for such a large fleet of aircraft.
Just a thought..............
Technically, what would be the effect of the CAA pulling the plug on the BMAA Permit remit? Would all Permits have to be CAA Permits? I suppose they would until such time as the PFA could demonstrate suitable proficiency on type and then BMAA Members would have a choice of PFA Permit or CAA Permit.