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I was an active member of the Greedmonger community, until I noticed a forum thread where Mr Appleton argued with some critics, then used an Alt to threaten to sue them and the forum they were posting on using money from the Kickstarter campaign. Upon seeing this I was irate, outed him on Greedmonger's forums, where my posts were deleted and I was immediately banned and labeled as a 'troll', and IP banned when I attempted to repost my findings. Upon posting this evidence on an interview regarding said controversy, my comments were deleted.
There is clear suppression of information going on around this project, and most of the fans are absolutely trusting "the developers can do no wrong" types - anyone who posts disagreement or question is immediately considered a hater/troll. Add to this the fact that the website itself is a facade, all features resulting in broken links, and all newsposts containing one sentence of information. Regardless of whether or not the developers are sincerely attempting to put out a real product, the shadiness of the operation and that the lead developer will threaten to use fundraiser money to sue people on the internet who hurt his feelings is enough to raise a lot of doubt.
References:
http://forum.wurmonline.com/index.php?/topic/69845-greed-monger/page__st__40#entry694003
http://forum.wurmonline.com/index.php?/topic/69845-greed-monger/page__st__40#entry694030
http://forum.wurmonline.com/index.php?/topic/69845-greed-monger/page__st__60#entry694406
In the first link MaHaBone (an alt of Mr Appleton's, the second alt, after shaitan) threatens legal action against the forumgoers and Wurm Online itself. If he deletes/edits that post, it is quoted in the following post.
In the second link, MaHaBone threatens that the kickstarter money could be used to fund a lawsuit. If he deletes/edits, it is quoted 3 posts down.
In the third link, Enki, forum Administrator, clearly identifies Mr Appleton with his alts and states "Do not continue using secondary forum accounts for the purpose of deception or threats against our members".
The fourth link is to a youtube interview where Mr Appleton addresses most of the controversial points regarding his credentials to make an MMORPG, where some of my comments which contained above information, under handle "squeethehobo", were deleted.