Don't mix narrative provided with evidence provided.

Not pilots, a pilot. All that project came up with was one pilot (Fravor) describing unusual event and none of the other three pilots involved or ship crewmen backing his story up.

Single person can see almost anything even if the observer is trained and trustworthy. As long as no other pilots collaborate the same event, there is little credibility.

Three senators earmarked millions into UFO research. Pentagon had to spend that money but they never took it seriously. Person running the project for pentagon seems untrustworthy. Now the process continues with organization whose mission includes inspirational storytelling, telepathy and electrogravitic propulsion.