To be honest you even cannot compare MagicNuts to massive devs like DarkCookie or NLT. I'll use NLT as an example.
So NLT took almost 2 years to finish Treasure of Nadia and each update was by default 2% progress. NLT media has 15000+ patrons (+-13000 in the beginning of the year), the minimum monthly amount to be NLT patron is 2 USD (lowest rank called "Casual"). So if we assume all of the patrons are Casual ranks, then he generates 30 000+ income a month and this is a minimum because in reality it is way more since not all of his patrons are Casuals/2USD-payers. There are patrons who pay more like 8 or even 20 a month. DarkCookie earns even more: a whopping 75 000 USD each month!
Now compare this to the smaller 8 500 EUR that MagicNuts gets per month while still giving us a 10% progress each update (assuming v1.0 is finale). On top of that notice that the updates take 5-6 months (except this one took longer) for 10% story progression, so if MagicNuts would release per month it would be roughly 2% progression and that is not that far away from the 4% that NLT Media, with a much bigger budget, gives every month.
So if you look at everything together MagicNuts is actually putting out a lot of work and, when it comes to performance, on par with the bigger devs like NLT or Darkcookie even with the difference in popularity or donors etc.
On another note:
1. As what milking is concerned, I think every dev does this even if a little bit. I mean, why not lol. As long as you're consistent I personally do not care.
2. Every single time the update release date for WaL gets close, people here start bitching about the time it took/the delay/testing period etc., and it gets on my nerves for the same reasons I wrote above. Dude is working fine and definitely not slow. Even if, I would rather have a working big update instead of a small update consisting of 30 minutes playtime with bugs and little-to-none spicy content.