@Eclipse Crypto: Watch your tongue, a "great big mind". You are good at coding, and have good tech skills. That doesn't make you wiser or even smarter than many other people. I know that type of coders who think their competence in narrow tech field makes them so much more clever than everyone else. Typically that unhealthy attitude is cured with time and age.
Yes, I don't take all your words as god-given, and I never take anyone's words as they are. I prefer to read between the lines, think independently and make my own conclusions. And among others things, what I see here is a personal vendetta of a pissed-off guy. Look inside yourself, be honest with yourself, and you will see that too. Don't pretend to be scam-buster. If they let you mine all you wanted, all your scam-accusation activity would never even appear here.

Now - technically I agree to everything you told up to now. But I disagree with the interpretation and conclusions, which are affected by attitude and hence are not objective.

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@Everyone Else: lets forget about the ways this was done for a moment. The actual result is: the coin is premined currently, and concentrated in the hands of the devs, as all we actually expected. Basically this is the same situation LISK (or many other current ICO coins) had before actually doing the ICO. So why this is called scam, and all the rest - not? Just because of the details on how this was launched? To me its doesn't seem to be that important. Lets see what the devs are going to do with this further. That will define whether this is a scam or not.