I'd expect some people to move some of their holdings in response to projects showing exceptional innovation... or at least to hedge their bets to an extent.
That happened a lot in the past. Every time a new anon coin boasting to be the next big thing came along people would hedge on it just in case, and every time they lost their money. Every time. That might explain some of the reluctance.
I think this hits the nail on the head. This is why there is reluctance. People got burned so many times they don't even want to look into any more alt-coins and their claims. But in time if Shadow keeps delivering on their goals, I think it will get the recognition it deserves.