I don't think it is too late. Solid team + solid product if they can deliver on it. They're doing all the right things right now
Either they have a product or they don't. Until they deliver something they don't. Even though the idea of a "chinese ethereum" sounds very exciting on the prospect of the buying power of the chinese market alone, you should not forget that right now NEO is just Antshares (ANT) rebranded.