Yes it is, the technology which are mentioned on their whitepaper are in under-development stage. They are trying to capture the Market Capitalization by HIYP or Rumor news, In reality their foundation is not like Ethereum. More NEO is Centralized Coin but yes it will Decentralized in future, and how long it takes no one knows exactly.

Now the question may arise then how it take so much attraction from market. The Chinese group played very smartly moves in exchange of Bitfinex and others - exchanges. The artificial transaction of buying and selling by (Chinese Investors Group) which lead NEO price to rise up.

In the last, I must say NEO have a capability to become a GIANT in 2018 but not yet in 2017 it will remain under the category of pump and dump coin.