Where is the real utility? How many applications are running on that blockchain and are there any large institutions invested in it? How have team and management expenses been covered? If that is from the mining rewards of the coin then it will be dumped by the team itself. Also most of the blockchain provides support as you have mentioned but it is not sufficient to increase the demand for the coin. We need an application that is built on top of the smart contract generates real profit and has larger community.
He mentioned above that it is a node, and isn't a node a kind of utility already? May be it is it's real utility because there is nothing yet, but we don't know maybe they will also released later on but those are only secondary, tertiary and so on utilities. After all they can still do a contribution to the growth of this project. If you are worrying about the expenses, it is also said that setting up a node requires a huge number of Noso coin.
Those interested participants can just buy it and that is how the team can earn a profit which some of it can be used to continue and improve their operations. Mineable or not, a team can always decide to dump most of their hodlings, but that is bad and only those who do that has a plan to exit their projects as early as possible.
