That is terrible statistic. I do not understand, when you raise millions of dollars you have problem to pay programmers to code atleast something?
It seems to be the case. Don't forget most of these startups have bad financial management. Immediately after raising millions, They abandoned their community channels, go dark.... Doing what? You may wonder. All they do is to move to bigger houses, get better cars. That's all. Because If the developers have been paid and the income is still flowing, They don't have any reason not to push codes.
Ome more thing, As you're already aware most projects are vaporwares and can't deliver on their promises.
that is unfortunately all true. many projects promised a lot and got away with the collected money. i also believed in many projects and was almost always disappointed. the statistic is really terrible, but hardly surprising.