Oxford ATC have done their homework... they will not be going into this with their eyes closed. There is a huge possibility that they will be offering an interim radar service before they get their own radar installed and working. They are fully aware that it will take time to get fully up and running... They have awarded a contract for installation and have the space in the existing building already earmarked (and probably cleared out by now). LARS is not a money-spinner, and the whole idea behind this radar installation is to afford some protection to Oxford traffic.
Radar need only be manned for scheduled IFR movements if that is what Oxford want to do... meaning the number of radar controllers is more than enough.
They know fully well how many ATCOs they need, they also know exactly how much of a service they will be able to provide with the numbers they are going to have. It is not exactly breaking new ground... other small airports have done it in the past. As the radar service develops, they will want to entice new customers and will build the provision with the traffic...
Instead of slating it, they should be applauded... there are too many airports operating in class G airspace that think it is acceptable that once off the airways structure, fee paying aircraft are left to fend for themselves in class G airspace.
As for the comment about the Olympic Airspace... it has nothing to do with the provision of a radar service from Oxford. After simulation it was agreed between NATS and Oxford that the airspace change originally applied for was not needed in its entirety and that it was possible to handle the Olympic traffic in a different way, meaning that some of the airspace could be 'handed back' to the GA community, which is in keeping with the whole attitude that, where able, the impact of the Olympics should be as little as possible on GA.