I have done a bit of research into this as it looks quite interesting and I found the following (similar to you bit with a couple of differences):

1. EOS does not exist at present. Dan talks about not wanting to release too early, but he has nothing to show at present. Should be ready for release by the end of the crowd sale (which has a year to run I think).
2. There is due to be 1 Billion EOS tokens. At the current price of $1.89 each, that's a market cap of just under $2 bil. Quite a lot for something that doesn't exist.
3. Dan has talked about Ethereum scaling and stated that it cant scale to anywhere near the levels that EOS can. To do so would involve a complete redesign which would break all apps currently on the chain. This is why he doesn't want to release too early as its easier to make changes before apps are running on the platform.

Overall I think it looks really promising IF it comes off. $2 bil is quite a valuation for something we haven't seen, based quite heavily on one or two key individuals.
On reflection, I think Ill buy in but at a lower level to what I was originally intending. This is one of the few alts I have seen that has real possibilities (although there is not much to see at present). Lots of possible upside and with current valuations, it has limited downsides.

The presale is a bit of a blind auction, so you could end up paying cents per token or hundreds of dollars. Not sure whether to buy in via that or via an exchange yet!