Thanks for the update.
You (management, not the hard working engineers, artists, etc.) knew that it wasn't working properly on the last gen consoles, and chose not to disclose the fact.
Fortunately, I think a lot of us inferred the problems from the delays, and purchased the PC version instead. But others didn't follow the developments as closely, or didn't have any option but to stick with the last gen version and hope for the best. What you did is not fair to them. The refund offer is a nice start to fixing what happened. I think a good alternative would be to offer them a voucher for the PC version, or perhaps a $25 coupon toward the purchase of a new system -- in other words, anything to keep them in the game long term, rather than abandoning it.
It's also not fair to your shareholders, who I suspect are near the point of rioting right now. Only a few weeks ago they were given assurances that by release time, everything would be alright. The anticipated pre-order revenues are now impaired, and we have no means of estimating by how much. I applaud management's recent decision to not tie bonuses to review scores. But I hope that this mea culpa includes foregoing bonuses specifically for the senior executives in charge of the decisions I have just outlined. If not, then you're just piling insult on top of injury, so to speak.
As to my own experience with the game, I am really enjoying it on the PC. I look forward to more technical updates and expansions, and hope that the game has a long and very successful life.