AFAIK, flow is one of the most popular blockchain for NFTs and that means CATA main target is to capture NFT market. NFT right now is booming and its a good move to capture NFT market. There are many projects already in this sector, CATA needs to work hard.
I am no sure whether CATA is providing NFTs only or they only provide storage capability for NFTs. This needs to be clear, right now there aren't many updates coming about CATA. The team need to work hard to win confidence of investors.
Well you missing the core aspect of decentralized app, they need decentralized storage where there is no scalability issue and also provide flexibility. This all is still missing in blockchain and I dont know why nobody is taking this thing seriously.