[underwires]

I am pretty sure they are referring to "the code is law" as quoted above. That is apparently changing to "the code is law unless we think that is unfair".

I am not as worried about it in the longer term, but it's a big setback in the immediate term. Ethereum will have to convince the world that it has truly returned to "the code is law" at some point in the future.

[acgourley]

That was either edited in or I missed it - but in either case I see it as "The code is law and the participants use a work-based consensus system to decide which code is run"