Ran out of money, went belly up, and sold the software assets to Fitbit so they could refund all the Kickstarter orders they couldn't fulfill, that guy.
Difference is that this time he is doing the watches with a 5 man team, not a bloated 100+ employee company with investors breathing down their necks, and the software is fully open source. Even released the Pebble 2 Duo hardware designs as a reference for others wanting to make a PebbleOS watch.
30 to 90 days is standard for a defects in workmanship and materials warranty, which is only there to cover something not working right because it came faulty from the factory. It's basically one step up from an "as-is" sale just so you can request a replacement if it's dead on arrival.
It is bullshit and straight up illegal in the EU, but as the watches are shipped straight from the Chinese factory and sold by a US based company, it might technically be allowed? The legalese is very confusing when I tried to figure it out - if a company sells something directly to an EU customer, they are supposed to follow EU laws to a point.