I think the openness of the community is really important for any crypto currency. I was involved with another much smaller alt recently and the attitude of the team was very similar to what you have described. It was a difficult time in the coins development and a lot of community members were asking for regular updates which the team refused to provide. In the case of the coin I followed it was almost like the team took an oppositional position out spite. I bailed at that point. The coin may still be a success but I would rather put my money where I can have some trust in the team behind the project.

Thanks got the article. I am only just starting to research Iota so this has given me some good food for thought.