isn't it too soon to declare this project a failure? Despite the drastic drop in prices and low trading volume. At least now it has improved and the team promises a product will be released in the near future. At least wait until the product is there.
You seem right, it is too soon to judge a project going into a failure phase.
I was also thinking this project will fail with everything they have done like, doing IEO on small exchanges and giving huge bounty allocation and being shared simultaneously. However, I see that the price of this token tends to increase even though the volume is not yet large, it is able to withstand the dump of the bounty. This is a very good thing.