It's valid, of course. It is just that no one wants it. It does something, just not very well, and does not seem to be anything someone might want. I do believe they might generate interest selling floating gravestones nearer to Halloween, or floating Santa's nearer to Christmas. But on the whole, no one wants this, whatever it currently may, or may not be.
Equating a rise in share price as progress is not accurate. Just games traders play amongst themselves knowing they can take advantage of the information vacuum to make some money. It is a traders stock, not an investors.