What is the status of this project at the moment, it seems to be quite an ambitious project but they really have the capabilities to pull it off?
I know there is Multiversum trying to do something similar, but that project sounds like a joke.

Because you're in arcblock doesn't mean you'll condemn other competitors in the space. Multiversum may sound as a joke until they complete their crowdsale and make new hires that pioneers the project to greatness. Both projects should do their own thing. At the end of the day, when the platform is up and running, We would know which performs better.