The BitSafe hardware wallet is an open-source project. It did not originate from BFL (see https://bitcointalk.org/index.php?topic=152517.0 for the hardware side and https://bitcointalk.org/index.php?topic=78614.0 for the firmware side), though BFL are the ones commercialising it. Like many open-source projects, work was done in our (allten and I) spare time, on a purely voluntary basis. Since we have other things going on in our lives, sometimes that means that development stalls. Currently, development has stalled. I expect things to pick up in the coming months as I have more free time.

You may not find a hardware wallet useful. You are probably competent at computer security. A hardware wallet will not offer you much additional security. But what about "ordinary people", who may not be as well-versed in keeping their computers secure? How are they supposed to store and use their BTC? Hardware wallets like the BitSafe and Trezor aim to improve wallet security while remaining useable by ordinary people.