Precisely. Besides that, terms of the business plan it is a blatant scam as they don't have any IoT system nor the team, infrastructure, expertise, experience, most importantly not the use case to create one. Luring money from the idiots, that's all.

24 votes on your list and IOTA has not even been released. Even inexperienced users who know nothing about technology and software can see IOTA is a scam.