You are so lame...sure the RSU's are not underwater the options certainly are, while the RSU's did in fact lose a significant amount of value over time. So sure, the are not underwater, but they are well under their top value, so I think you know what people were trying to say. Sorry they lumped options and RSU's as being underwater in the same sentence, but again I think you get the sentiment. People are pissed that this venture did not pan out.
So there, I hope the semantics are more accurate for you now, however, again, I think you got the gist of what people were saying...this minuscule share prices is far lower than what is was when many of us joined, hence making our options worthless(of which we had a much higher ratio as coppered to RSU's) and RSU are worth far less than they once were.
You want to be a douche and point out the syntax error, have at it. What it doesn't change is this was a colossal failure, and you relishing in pointing out idiosyncratic errors in a statement proves that you are a sycophant.