In retrospect, why didn't Handshake (HNS) work out?

I wouldnt say its dead yet but:

(1) the coin value is divorced from the value of the names. 

(2) the founders did a ~66% airdrop to existing industry (icann, browsers, etc)  which they can dump at any given moment.

Cont>

(3) they shipped a good v1 but didnt foster a hard fork culture, so theres a bunch of bitcoin religion that doesnt want to change anything

(4) the founders walked away after launch and didnt allocate any money raised from VCs to raise awareness for the project. Anyone who works on it full time chooses poverty. 😅