Well, I am confident that they will reach it but I was also confident that BTC wouldn't drop below 5k again. And here we are now. I don't wanna paint a bleak picture but raising funds in this extreme bear market can be hard. So maybe they could also work with the amount they got so far and don't have to refund in case they don't get the remaining 500k to reach the softcap.
No softcap - no project. This is the law. If the project reduces softcap - this is a sign of scam. Softcap is the MINIMUM amount of money, it cannot be reduced.
if a project can not reach softcap then i don't think it deserves to continue its development because they will probably not make any impact on cryptocurrency market