A rather unusual idea for IEO. I dont even know whether its realistic to raise money for such an idea. The forum has many other serious IEO/ICO and everyone has problems with fees.
Now probably every project has problems. I can't say that this project is any special. as in many projects a referral system is used to attract users. If the team will perform the tasks, then maybe they will succeed.
A lot depends on how you advertise the project, what percentages for the referral program and many more different nuances