She is an egocentric person who could not handle the fact that he wanted to help both her company and TC, the brand that he spent many years of his life building. So she kicked him off the board in a completely immature way.
Do you really want to believe this story? Which is written by someone who is extremely bitter that they didn't get to be editor of TechCrunch and whose property really isn't living up to expectations?
I would love to see a real show too, but reality TV and founding a company are anathema to each other. Cheever put it best in his joke e-mail. How are you supposed to be heads down, focusing on solving the right problems when TV cameras are all around? It's not surprising that no one credible or serious actually signed up for this for fear of career suicide.
I don't think TC's trying to put down anyone either. The irony is that Lacy wanted to do her own reality TV show startup competition that ended in Las Vegas, but Randi beat her to the punch her own mainstream TV deal. So Sarah's just trying to position herself as the "serious" authority in Silicon Valley for later deals down the road even though she is very much part of the same overall trend toward superficiality and showmanship.