Steve Kondik, founder of CyanogenMod (the community ROM) and Cyanogen Inc. (the company):
CyanogenMod is something that works. Perhaps it doesn't need to "go big" to work. I'm still wildly inspired by the idea of a platform which forces participation. Whether it's the choice to hack your phone to bits and figure out how to install the damn thing to begin with, learning what's possible afterwards, or just having the confidence of being in control, it still serves an important role which hasn't been filled outside of the custom ROM community. Cyanogen Inc (including myself) will still be sponsoring the project and will continue to have an active role in it's development. Contrary to popular belief, we are not "pivoting to apps" nor are we shelving CM. We'll have additional information on the Inc site soon.
Good news for CyanogenMod (the ROM), but communications in the vein of "the company is not going down, honest!" usually precede the company going down.