uWink has been a failure and will probably remain a failure. However, I don't think this is "sneaky" but an attempt to salvage uWink and make it survive with any hope whatsoever at all. Which there is little, IMO, but at least he's trying. I don't see anything "sneaky" about it. A lot of companies are going this route in their only hopes of survival. DEIX is a profitable company doing this as well to save $ to pay down debt.
Filing bankruptcy is actually the sneaky (and easier) thing to do as it secures salaries while screwing the shareholders out of any hope whatsoever. For an example there, see Nortel (old symbol NT).
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