In our empirical analysis
I think that these 4 words can easily mean that the entire declaration made there holds no actual value and it can easily be considered unfounded and biased.
Of course, somebody has to be careful to this tiny detail and, based on his... views (or interests!) in the matter consider the report very good or plain useless.
Well it depends really. It would be biased if they only analyzed BTC's price descent over the past year, in which case it would look really bad. I doubt they have super high tech crypto people on their team, but I wouldn't see it as a bad thing by itself.