No, I dont think so. "You are supposed to be intelligent" and "Do what I tell you to do". The app gives you an option to disregard all the challenges and points are only required to attend parties, there is no reason for the mastermind to be upset at participants at all for that and within the context of blackmail...well it's blackmail. If they dont comply you would just execute the condition and be done with it.
I came to the conclusion that she is either referring to another person involved or an AI that is managing the app and it's doing something that she wasn't aware of. I'm willing to accept that she could have something to do with the app because she is smart enough to do it and she likes to watch. That has already been well established in the prior chapters so its not so much of a stretch to link her to the app. However...
Your theory does not make sense. Being an arrogant tech billionaire "man -child" who gets upset at their "toys" is not consistent with a person who would need moral support to start a singing career for instance. They would likely just spend money on countless ads to promote themselves regardless of if they have talent or not.
Then again a lot of this game doesn't make sense so the writer could just be digging another plot hole that can only be filled with equally absurd assumptions, suspension of disbelief, or disregard for logical consistency.