Thanks for the post. How legitimate is Lomo? It seems they have been dormant for some time now they are back on the scene. Their ios app links don't work and the app gets 2 1/2 stars. There is very little evidence that I can find of the Dev directly communicating with users/investors. The Lomocoin WeChat I found had very little about the company or devs.
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The app is only available in China, if you are in the US or other countries, you would not be able to access it.(hope this answer your first question) But as I pointed out they will release their apps to the West soon, also some Asian countries like Japan and South Korea, perhaps you can keep following our updates or check their news every now and then. About the 2 1/2 stars, I think you are talking about the Android apps? I have never used the app because I am not in China, so I have no comment on it. On their Github page, you can see there are frequent commits and changes of code, they have 2 main developers, If you speak Chinese, you can add their QQ group and Wechat group. And yes, I agree that they are still very shaky and not having a very impressive outlook at the moment. But, the upcoming updates and release will certainly have the chance to make a temporary price surge, so I have invested some and prepare to lose. But if it does have a 30 to 50% surge, I would make some good profit out of it. So, it is just at your own risk. I don't recommend long term holding.