I think your skepticism is warranted, and to be honest, is probably shared by the majority of academic scientists.
To give a little background - I'm the CSO of ResearchHub and I come from scientific background. After college I started a PhD program in molecular biology and I've worked in epigenetics and synthetic biology labs. I ended up dropping out after seeing how difficult it was to achieve success as an early-career scientists. A few random stories:
-A friend of mine was told to leave her PhD program with a masters degree because she was unable to replicate a famous result in her field. Three years after she left, the paper she was told to replicate was retracted.
It turns out that >50+% of research is unable to be replicated, so I'm sure this is not unique to her experience.
-A PhD student in biochemistry lab I rotated through was in his 9th year of the program (normal is 5-7), completely out of funding, sleeping on a friends couch, and paying for his experiments out of pocket just to get the publication he needed to graduate with a degree.
Academia is riddled with perverse bibliometric incentives that encourage researchers to partake in behaviors which hurt the ecosystem as a whole. For example, an article shared on HN a few days ago showed how irreproducible papers are cited 153x more than reproducible papers. This is because more interesting results are more likely to receive citations, but also less likely to replicate.
After I left my graduate program I was admitted to medical school. My institution was fantastic because they got med students into the hospital to interview patients during the first week of classes. Without typing a novel, many of our front-line therapies are surprisingly old and ineffective. The waste caused by a broken incentive structure for academic research is felt within clinical medicine.
You are absolutely right that arXiv, bioRxiv, and MedRxiv are fabulous projects that have pushed the culture of open science forward tremendously. Also, should out Open Science Framework - they are amazing.
While these tools help scholars share their work in the open, we hope that ResearchHub and ResearchCoin will help to fill a grab by creating new incentives that can help to loosen the grip of bibliometrics on a scientist's career prospects and funding decisions.
ResearchCoin was included because it allows our community to create a dynamic system for rewarding open scientific publishing/discussion that can change over time. In addition, the ResearchHub DAO to allows scientists to help govern how rewards are distributed. The admittedly quite lofty goal is to create a democratic and evidence-based incentive structure for science.
While it is possible that the cryptocurrency component will make it easy for some to dismiss ResearchHub, we believe crypto is an elegant solution to address some of the root problems in academia.