This coin was forked from Deeponion which the DO community were up in arms about .However Deeponion was itself a fork of another coin so their anger was pointless.
Most new coins are forked from BTC or other forks such as LTC or Dash. The critique of the DO supporters was not that Privcy was forked from DO, but that the Privcy team "forked" and copied the whole airdrop/sig campaign distribution model with zero new innovation.
You might have more insights into the reasons why things happened they way they did, but for me as a former DO airdrop participant the whole Privcy project just looks like a "get-rich-quick-scheme" for their devs. It might have changed now, but if this is the case I am wondering why this coin has a $50k market cap. Looks dead to me, and if not it is probably crazily undervalued?
As i said the team who are in place now are a great and honest bunch of guys imo,having worked with them. how the coin started, or if it was a quick money making scheme is a matter of opinion. It may have been seeing as the main dev seemed to abandon it when the prices plunged and big profits were not forthcoming. whoknows right?
but what i do know is that now it is a working project with a team who will try their hardest to make something of it.
As always, make your own mind up. it could be worth a gamble