I look at whether a project is serious about doing things, and I don't pay much attention to what their proclaimed vision is; I focus on two things: how the treasury funds are spent and how the milestones are delivered.

Money is spent transparently, but every time it’s like “next week for sure,” which is probably just for show;
Milestones are written plainly, occasionally delayed but with clear explanations for why, and they also fill in the follow-up, then I’m willing to be more patient.

Recently, those new L1/L2 projects start by releasing incentives to pull TVL, and I can also understand the complaints from old users about “mining, selling, and dumping”…
Honestly, projects that are truly working don’t fear the treasury spending being scrutinized; the more detailed the accounts, the more at ease I am, and I dare to hold positions that let me sleep peacefully.

You say “spending more money means faster progress”… I don’t think that’s necessarily true.