It was a project that was and continues to be promising from a development and utility standpoint, but that has been marred by terrible governance, internal politics, and amateurish management
In fairness, the foundation arm of the token's development appears to be operating in a reasonable and pragmatic way along their planned roadmap. It is a related company, helmed by the previous "frontpeople" for the project that has run into significant bumps and legal jeopardy.
Whether or not that means that the project will ultimately release, I have no idea (nor vested interest in).