Leon .. your argument "appears" persuasive .. but has one major flaw ...
You assume that all the folks who donated to VTTS would have donated to one of your other pet projects if VTTS did not exist. likewise you assume that those donating to this project would donate to something else if it did not exist.
This has been proved not to be the case many times .. people donate to something that takes their fancy/catches their eye/intrigues or interests them .... they do not, in general "go looking" for something to donate to.
This is "proved" for want of a better description by the large amounts that went to VTTS, far more than the "normal" level of donations to such projects.
I accept that SOME folks may have diverted their donations from one of your projects to VTTS, and may do so again to support this project, but to blame the demise of your favourites on the existence of this project is a step too far IMHO
Freedom of choice is the backbone of our society, and folks are free to donate to whatever they wish, or to not donate at all.