I checked their github repository and the team appears to be hard at work. I'm impressed with what I've seen so far. For the records, it's the first time I'm hearing about SUMO. I just think that they need a little more work on their marketing department to bring the project to the limelight. Their github commit history is healthy. They should try to get listed on some mid to high tier exchanges.
Well, to be fair a lot of projects are also hard at work and that does not mean that they will be successful, simply that they are doing something, which for me is the bare minimum of a project do you not think so?
It feels funny that many are not even doing the bare minimum yet raising money for fantastic ideas.