its 10 minute blocks target time not 60 sec.. its been 3.5 hrs and theres ~180 blocks only. Half in first 30 min. Retargeting is trying to play catchup to the hash coming online.
It will take a long time to catch up with that 2.5% premine/210,010 coins
its ok we lived through this stuff before right? you want to be able to mine or pay for ICO, dev's gotta make money some how.