It's a heartbreaker but was a train wreck that most people saw coming.
I did kinda enjoy the malnourished little, painful, annoying product that came out in the end.
What it took me to pull the plug was the infamous 9mm Parabellum bug. People were complaining about the 9mm firing backwards. I didn't believe them and neither did CRS. So I conducted some tests, and found out that under certain conditions, you could get the gun to fire backwards. I posted to the beta board (2 months after release) with screenshots, and the only feedback I got was "maybe, possibly, there's something wrong, but we haven't seen enough evidence". So I spent a mess of time to demonstrate under heavy FPS loads, the 9mm parabellum would "boomerang" -- fly forward, then snap and fly backwards. They never bothered to respond. Then they post an "update" announcing they found a "weird bug wher ethe 9mm parabellum flies backwards".
So I raised a stink and stopped playing.
Before I left, however, I did note that they revamped their relationship with their beta testers.
Still, I gotta say: they're good people, and I really do hope they do well. It's a good idea, but implemented poorly every step along the way. If they make a decent version, I'll be there. I haven't seen it yet.
Now my big objection is "Sure, you might have 'everything working right around the corner'", but (A) hasn't that been the case for the last two years? and (B) if you do, you really should be focusing on repackaging and rereleasing under a different name and with a different (and more interesting) theater. If you don't have the money to do that, liquidate in time to give the employees a decent exit strategy.