The devs have come out and stated that they had a real bad first half of the year, for a simple explanation as to why no progress was happening then. I'd make assumptions but it's not worth the time and effort, and simply wish them well and hope they're okay. (Personal thoughts about it go towards severe illness or something family-related, or having to move house/continent. That's guesswork, not confirmed, don't take it as gospel)
As for your arguments... yeah. Can understand being frustrated about no development work, but at least there's opinions and responses on occasion so at least they didn't run away with people's money. Give it some time and wait, the next update is likely due soon or soon-ish.