Looks like vaporware. Many great projects failed because they aren't practical enough.
Perhaps best known example is project Xanadu. It is a hypertext project founded in 1960, that is, almost 30 years before World Wide Web.
It's vision was in many ways more advanced than WWW, e.g. it was supposed to have built-in search, document persistence, automatic caching and so on.
it wasn't a scam, just too ambitions and didn't properly addressed market's needs.
Yeap it might end up being more theoretical and not practical. However, should look into the research he has done. That guy is on another level than anyone I've come across. A discussion driven, logic-based consensus platform that adapts itself is something to look forward to. I've compared it with the semantic web failures and such, and have more reasons to think he has a practical solution.
On this I agree. TML is the most ambitious project I've seen in the crypto space. That ambition is part of why I support it so much. High risk, high potential for reward. If it were low risk the potential for reward would likely be low as well.