This is an excellent project, it is a very strange fact that it is received in such a cold way from the investors. Perhap they will need more time to understand it.
Well, this could be a profitable investment for investors especially when this gets listed to exchanges but i am hoping this would get funded more.
Yes it is a good risk and very undervalued since it is well into development. The codebase is based on an old project called FrozenJar which the lead developer created. It is a lot of gnarly php and no fun to look at but rather complex.
Since then it has radically changed not only its codebase but a switch to using IOTA as a decentralized storage solution.
IOTA is really really cheap storage but needs nodes to do proof of work for basically free which is one of its challenges. By monetizing proof of work and data retention operations through an pearl generating ethereum contract there is an incentive now to support IOTA. If this works it can form a symbiotic relationship between Oyster and IOTA.