The fact that he's focused entirely on funding without a shred of actual code should be a warning. Go back to the NXT announcement thread and you'll see that BCnext had at test interface running. There was at least some work done showing that they guy could actually develop.
I think you hypocritically forgot to mention NEM (which is run by a Nxt supporters) who actually collected funding without 'a shred of actual code'.
NEX has received pledges, but will not collect funding until actual code is demonstrated.
Maybe you should ask this same question to your NEM compatriots.