I see the project is not working seriously, but instead focusing on how the treasury spends: money is poured into development/auditing/infrastructure type "slow money," or they are daily sponsoring activities and frantically buying traffic.

Milestones shouldn't just be spoken about as empty promises; it's best if they can be verified on-chain and in the repo: spent a sum of money, and after a while, there are indeed more commits, more tests, more documentation— even if progress is slow, it can be explained.

Others think that testnet incentives = the project team has money to spend recklessly.
In reality, I'm more worried that the token expectations will distort the rhythm; everyone is guessing "Will the mainnet issue tokens?" Meanwhile, the team keeps changing rules and issuing announcements, but the treasury spending doesn't show any real progress…
To put it plainly, the more transparent the money spending, the easier it is to review milestones, and the more at ease I feel.