Things nobody wants or needs - Check
It's not even a currency. You're initially being sold as getting involved with a currency, yet their plans include things like moving a large portion of the IPO into the establishment of a "decentralized autonomous organization", another Protoshares buzz/scam word. Just like every other variable in this plot, they don't even bother listing what the purpose of such an entity is, or why you should want it. You might as well be investing in decentralized, autonomous, robots armed with machine guns. There's just zero reason for you to want any of this stuff to exist.
This is the biggest and glaring issue of the coin network. They are incorporating the coins into a more centralized organization rather than keeping them in the network. This allows the organization to dictate the value of the coin at whim. You might be mining for a profit one second and then all of a sudden the organization dictates a change and you are in the hole. All the while the organization is the one profiting on the shift in value.
They are establishing a Federal Reserve coin network where a single body controls the inflation and value of the coin. Only the ones in charge of the network and their insiders will every profit from it. For everyone else it is a negative sum game.