There have been similar projects before. However, this did not bring anything to investors. Even if this team consists of conscientious people, now it is very difficult to gain the trust of investors who have been so often deceived.
Unfortunately, we have more skepticism than positive.
this kind of projects end up as trash, they hype a lot and stop producing an actual working product
80-90% of all new projects are scammers, just make money and jump to another with a different name and team
You are not wrong mate, 90% of project are just for quick money grabs no serious goal to achieve, the team have no intention to support the project long term, it is all for a very short term basis, they create hype around the project allow investors to invest then start coming up with different excuses when you ask about development progress, then eventually the project will die off and they are already settling up another new project for another quick grab and so it will continue.