That's quite a few coins compared to the total supply, but considering there is some innovative new tech it's not so bad. I'll probably grab some and sit on it for awhile and play around with flips and such. At least this is an original idea and not a copy pasta coin.
Indeed is a big premine, but this should not be a big problem if the team/investors are not dumping the premine into the market. Is normal to have a budget of development, so you can pay expenses, developers and stuff. Otherwise who will work for free...