For me this is one of those (typical) examples, of a rather (too) generic tool, solving a problem that is already being successfully solved by a number of other (free) tools.
AFAIK, tools like these can sometimes still succeed, if you pick a very specific/narrow niche market and focus all your marketing on that market, and offer special(ized) features for that particular market.
But as a generic tool, or one that tries to "do it all" for too wide a market, I don't think I've ever seen that succeed (commercially). At least not from this position, being a new kid on the block and competing with already established tools doing the same. Just not enough of an edge over the alternatives, I think.
I do feel sincerely sorry for the creator, if he believed this would work out for him. But I (also sincerely) believe it just never had much of a (realistic) chance from the start. I can't make it sound any nicer than that.