The app idea might be good, and their project combines Web2 and Web3, but no one knows if their coin will actually succeed since it doesn’t have any real value. Perhaps its idea is similar to the Pi coin project, but this project relies on a rewards system between users and merchants.

Honestly, I completely agree with you; naming the project New Bitcoin is the biggest mistake they made. It's a misleading name with no real connection to Bitcoin. They probably thought of it to give their application a kind of false legitimacy and to exploit Bitcoin’s global fame to attract users to their app.. It’s worth noting that, over the years, most projects I’ve seen that used Bitcoin in their name were scams. So I hope their project and app turn out to be an exception to my expectations.