No it has a lot to show for, the project kicked off in april, 8 months ago. Writting it from sratch again with community funds and no ICO, no pre money, try accomplishing something like this yourself. Two testnets done and one nr. 3 in the next days. Evidence of 1029 tps on only 25 nodes and running on the old, no vitalis or pulse. X-Cite.... dont be quick to judge! wait for the third tesnet results, they are coming in the near future...