And its transition to shitcoin has begun

question from a noob on this coin to others who've been more closely following it:
could anyone summarise what's special about it?

were basic aspects ready at launch - wallet, blockexplorer, website, whitepaper and/or features, etc. - or is the [ANN] promise-heavy?
have the devs lived up to their promises?
Any hidden problems -
premines?
instamines?
well distributed? is there a rich list?
buggy code?
are these are hard core programmers, not "copy-paste" devs or middlemen? When bugs/fork challenge pop up, are they fixed quickly?
dev squabbles?
dev complacency?
missed deadlines?
Is the entirte dev team anonymous -- and even if so, does it at least have a solid reputation here on bitcointalk?
Anything to worry about?

When is the next significant development update (code, screenshots and/or whitepaper/proof-of-concept or something else) expected to come out?

I will remember that when you make a mistake and try to set it right by acknowledging it and apologizing.

Its better that i know now my previous assumptions were false rather  than having not said anything