All tokens are useless , just to remember everyone that bitcoin was free when it started.However I do not think they have run out of money, most likely a good slice of money they divided between them, 3 or 4 people max, good money i guess!
Well, it depends: at first they said that the token was necessary to use their services, no token = no Ubiatar, then later we discovered that they sell their services for fiat money, so the token is useless in this case.
And let's not forget that they evaluated ETH at a much higher rate, and then ETH kept going down, so I'm sure they didn't sell at the right time. But for sure Francesco Raco had enough money to buy a brand new Porsche for him.