Brilliant analysis. This is a typical case of over promise and under deliver. The set up was decent until they appoint a CVO to run things. They lost their technical focus ande decided to run on hype generated by the CVO ... sad case. Taking away more than the necessary capital for their own egoistic and financial gain instead of focusing on delivery their core. And yes, COMIT is just hot air. Not a single line of code has been made public ... look at their timeline, it is like a elastic band ... muddying the water to make it look deep is the perfect description. Followed you.
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Thanks for the follow! If they (by some miracle) do manage to deliver, it will an interesting enterprise to watch. At the moment though it really seems like a lot of hot air.