Sort:  

That's the thing: so far they've come up with no idea for incentives.

If they declared creating their own token on top of Ethereum, one could be expect they have something interesting up their sleeves and they just don't want to reveal it at this stage. But when they declare using ETH as their token, for me it means they are completely empty-handed as far as economic ideas are concerned.

They even explicitly admit this:

...learning from the actual use what sorts of problems we should be solving with a custom token

So they don't even know what problems to expect, let alone solving them.

They should just fork steemit :)