Lol yes, you are correct that is exactly what happened, helped along by some unrealistic expectations by some here. I expect those expectations to be met later this year into next, just not now.
As far as why people react so much to the normal ebb and flows of MMRF, and penny stocks in general...I think the main reason is A) you are dealing with a retail public that is for the most part not very experienced in trading stocks, B) many of the people trading penny stocks are people with not as much cash in their portfolio as those who buy the big boards, so a 20% move up or down to a guy with $3000 to his name is A LOT, and C) penny stocks move much more than your big boards, and a lot of them move on hype, not fundamentals, so its gonna bring out all the crazies.