I don't think it's way too hard for a token or coin to be added at an exchange, most of the exchanges (not all) nowadays are all about money like yobit which will add your token eventually provided that you have money to pay them. Why not pay from the funds you collected during the sale to add this token in some "more decent" exchanges?
I think it isn't longer about exchange but it is about trust.
If people didn't trust a project then a trade will never happen.
It's time for MDN to build trust again to keep the project alive.
I think it's both, most exchanges don't want to list a coin that hasn't been around long because the crypto-sphere is full of exit scams. At the same time there are hundreds of new coins all the time applying for exchanges now so there is a huge waiting list or you have to pay a lot to get listed.
The devs are still here and working, they could have already ran with the 47 BTC already but they haven't which is a good sign. They just need time, it will take a long time to build the Meridian platform.
He is waiting MDN has a value because he is holding almost 50 M. That's why he needs longer time.
And I still believe MDN is one man team.
I hope I was wrong.