No one will invest in the project, if he finds something suspicious, these are facts, for example, even a team photo.
You are 100% right! It seems to me that if the team wants to remain incognito it is better to be honest to write that the team decided not to publicize their names and photos. But when they use other people's photos, it's like a Scam.
As for me, the photo is not such an important part in the project, the main thing is how it will develop in the future and what are the prospects for the future.