When I was there, everyone was vastly underpaid, while the agency charged incredible amounts of money for our engagements. I'm talking $40k UNDER market salary, with no bonuses. It became a place that underpaid designers who were flattered to work there, but left when large tech companies offered twice the salary MetaLab did.
The unfortunate reality is that the owner is more concerned with MetaLab making him more money than actually being involved in what made it awesome in the first place.