Maybe it's that "our business is organizing anonymous sex hookups" that is embarrasing? I'd feel the same about Tinder BTW. I think it's one step above having a porn site on your resume. The tech may be interesting, but the content is not "respectable"
The execution of the product maybe should embarrass them. It's gotten better, but it's always been a bit on the flakey side (read a message, and it might dismiss the iOS message indicator, it might not, who can say, for instance). Romeo (formerly GayRomeo), with AFAIK a much smaller team, is far more solid, but only used regionally (these apps tend to be virtually local monopolies, for whatever reason; every country has one or at most two non-niche ones in common use).
Mind you, there's a bit of a tradition of this. Gaydar, which was popular in the same space in the pre-smartphone era (it never really made the transition to phones well) always felt a bit held together with duct-tape, and had a particularly unique approach to preventing SQL injection; it simply replaced all single-quotes with backticks...