I think there are legal reasons why they cannot commit to any obligations to token holders, even if they still intend to.

When I read the terms and conditions for the Monaco card ICO it also said that there was no guarantee that the product would ever be launched.

Investing in cryptocurrencies and digital assets, especially via ICO carries very high risks. My advice is that anyone who is not comfortable taking such risks should stay clear.

I'm considering the Ether I send to the crowd fund to be a charitable donation to the project rather than an investment.