Well that would have been my initial thought as well, but I don't know nearly enough about the project to say why it may not have gained a much traction as if hoped for. A team of likely very dedicated people put a ton of effort and passion into the project, I'm not willing to just write that off.
Agree with the specific is it not, we need more projects like this testing unique idea and sharing their lessons. In the crypto space specifically, we have learned very little to nothing from most projects because they just try the same model. I'm happy to see a project thinking differently regardless of how it turns out.
Now with regards to your specific argument, centralization and standardization aren't always the answer. It's a web of hyperlocal currencies the answer? No idea. But does that really mean we should centralize all power and stick with one currency and one monetary policy? Should we do that with other things like communication platforms, social media networks, and move all state powers up to the federal government? Would we all be better off with one global currency and one global back driving monetary policy?