I agree that mindlessly asking for additions is annoying and probably a distraction to Steve (if he reads such requests), especially as more interesting/important suggestions might be missed as a result. Whining due to the pace of development, or about decisions on what's included or not - that is also unproductive.
However, I believe that it would be a terrible pity were anim8or to remain as it is now. There are things that could be done to improve it for its own sake. For instance, I haven't found a free 3D program with a renderer nearly as advanced as anim8or's, possibly povray as an exception but personally I think anim8or's is better. Adding PNG with support for its transparency would make anim8or that much better again - I can't see how it'd be a bad thing in any way.
Also, yes this is Steve's hobby, his creation and he owns it. While he wants to work on it, however slowly, and take it the direction he wants it to go, well that's totally his right. When Kyle suggested making it open source, he was responding to the suggestion that perhaps Steve's given up and anim8or development is dead. I really hope that isn't the case, but if it is I'd also prefer to see it open sourced - or development passed to someone else that Steve trusts - than just frozen, overtaken (eventually) by other open source projects and finally fade into obscurity. Anim8or deserves better than that, and personally I'd rather keep using it than be forced at some point to learn another program