I agree with most of this post but regarding that last statement, when have you ever seen an altcoin that's worth more a year after launch than in the first 2 months of launch ? Anything that's ever shown any promise in this market gets its valuation priced in very quickly - within a month or two if not immediately.
After that it's all downhill.
It hasn't been a year for many alt coins.
But Maidsafe is worth double (just under by about .0008 as of this post) what it was sold at IPO and is very Bullish right now. I bought at the IPO for that one and haven't sold.
For what it is worth, your assessment is largely correct but there is a difference here in Bay if the team really is dedicated (the team that is not David). They have the benefit of a long R&D process and commissioned a leading dev to deliver next gen material so that they can implement their business model. It sounds to me that the process occurred with the end goal being the economics of the marketplace and not the coin itself - meaning that they are trying for real world application instead of developing a platform that is functional but with theoretical value.
My two cents...