Your project tries to fund and guide people with ideas to build and launch their project, but what's your filter and selection method to prevent scammy project? Even bitcointalk are flooded with scam projects everyday (and this forum didn't even fund those people) I don't think you won't face the same issue, if not worse.
Their idea is not bad but they should care for the issue which you brought here. If they got success in filtering the scam project then they will do a very good job for this community especially those who are not scam and have beneficial idea for the blockchain technology.
I'll say their project is ambitious and appealing to cryptospace. If success, they'll bring quite a contribution to cryptospace by broadening the horizon, but I can only imagine the problems they have to tackle to run this project.