First, just because they are working on something doesn't make it something. That is like saying... hey I'm working on adding encryption. It isn't there yet, but I can still claim my app is encrypted.

Also, P2P overlays already exist in multiple forms.. Yggdrasil, Nebula, Tor, etc. Yet another example of them trying to re-invent the wheel when it isn't even necessary. Tox already does this.