in my opinion no - this is an organically growing project - which is totally fine. https://www.counterparty.co/counterparty-founders-inside-bitcoins-hong-kong

there three reasons for the very low market cap: 1.) the widespread distribution and still relatively good prices to sell for burners. 2.) there is in fact not much use for the currency xcp until now (despite dividend function - I think this will change) 3.) uncertainty due to the discussion with bitcoin core developers.