Have you seen zcash, zcash has been tested for security, after I learned that Elixxir is still far behind zcash,
https://z.cash/I am also having same kind of doubt and wanted to ask OP, a lot of people start up project without checking the market to see if there is an already existing project with that kind of feature or even better, this is the reason why their project might not go far because a lot of persons will wonder why they need to leave zcash in making purchase of a coin that even offer less value than what zcash has to offer.
I think the team behind this project should come up with something more unique and would be able to drag in investors to their project, else a lot of persons might not be interested in the project.