There are 2 options here:

a. this coin is dead from the start (in less than 2 weeks)
b. because the coin has no premine (or has it), developers are quietly mining it before a "relaunch".

Hobbitcoin is a good name for a coin, and may succeed with the fans of "Middle Earth", but I wouldn't invest more than 1 day of hashing power on it.

At the current 0.4  difficulty, if to rent 10 MHs of scrypt rigs you can get about 3-4 millions of it in a day (if not more), that would cost about 0.15 BTC for the rent.

But, Is it worth it?