It feels like they outsourced this, or hired the people willing to do the work most cheaply. More likely they hired the people in their network who had any experience in this space and hoped for the best (Bill was director of engineering for a regional bank? He knows people, right?).

I don't doubt there would be engineers willing to work on this if 1) the pay was right 2) the culture was right. Do they have the executives in place who know how to set those two things to attract the best engineers? All signs point to no.