The head guy is a goof but so are a lot of really successful people - look at Jack Ma for instance. He seems really passionate about the project though and they raised a lot of money. And I rather receive useless updates about traveling to conferences than get no information at all, like many other projects. I threw a couple ETH at this and think it's worth seeing where it leads in a year or two.
I know my comments may be harsh but I believe with cryptos/programming/computer science projects you have to be somewhat more precise and alot less scatterbrained to get things done and done efficiently (you can blow alot of time, fumbling around and in the end get it quickly cloned/stolen by someone else). Sure, plans change but it is good to at least forge an initial direction you are heading.