Not sure what "spinning wheels" means but if you feel you've found the next big thing in a new ICO then please go make scammers rich.

ARK is a big project which is around for a long time now and has gone a long way with the development.
If you're not actively following them and you don't see the updates, it doesn't mean they don't exist.
Currently ARK is in something like a beta and the v2 will be the main release, even though we still had some projects like Phantom which are based in ARK. More will follow and ARK holders will receive the airdrops.

Btw, instead of ARKtoshi I'd prefer something like microARK, mARK.... or ARK-kun maybe?