It is indeed a promising little startup. However, I've tested the application a while ago and it was very buggy. To begin with, I couldn't even register an account on it due to errors, so it is very unstable. Hopefully more people and resources get behind it though.
Yes that is the real concern and I have tried it and installed it and account creation and Posting is all fine but still missing many plugins / features etc and without those we will not be able to use it for production. But if they can make it working with limited feature as well, then I guess it wil be a good as it has a freshness in their thought and may be they have stopped it due to fund issues for the development.