I don't think it was initially intended as a scam, however there are some statements which make me think maybe they wanted to pull a scam. I know the founders are real, as they have a registered company. Most people in the whitepaper are just personal acquaintances of the founders. Basically none of them are qualified to run a project involving coding and blockchain - they are qualified electricians and their "Advisors" are self proclaimed crypto trading experts.

It was surely intended as a get rich scheme for the founders and their friends. But it looks like they failed at every step. As you say: what they called the "worlds first physical NFT Marketplace to verify ownership of physical and digital assets on the blockchain" is now a web2.0 shop with stripe-integration and a bad design, many bugs, no products/partners and they call it "The worlds firts web 3 marketplace for luxury watches and jewellery".