Almost all ICO tokens are pseudo-equity whose radioactive incentive structure tends to fatally poison the underlying value of any project that issues them.
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Problem for was that they didn’t have adequate controls for the amount of fake accounts and scammers that appeared to claim and steal airdropped coins. Unfortunately, devs abandoned it after the acquisition. Still lots of potential if they ever revive it.
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The *whole* concept of Keybase and why people were using it in the first place, is ID verification! Either they were sloppy and didn't know how to use their own tool, or they didn't care and were blinded by greed. The very idea of that airdrop & token use was simply bad.
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I think the primary reason to use it is for e2ee group chat and file management/transfer. There was no team isolation from the open platform though so it's useless as a real business tool. I agree, the wallet integration was a bizarre step that probably cost them a lot of users.
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