Did anyone purchase it? I am curious if the project got abandoned because it did not get much traction or if it was some sort of scam.
Pretty sure that kind of thing happens with a lot of games and Kickstarters. Think No Man's Sky, but Hello Games just disappears instead going back and actually redeeming the game with free updates.
Still a half-finished product, still unfortunate, still a waste of money, and it's something you should not do if you release a paid half-finished product. But I can't imagine anyone saying "let's spend 12 months making a half-decent IDE, then release it to grift out people who actually buy paid IDEs". There are way better ways, legitimate and illegitimate, to make money.
Never ascribe to burnout what looks like a cut and dry "grab the money and run" snakeoil scam...