The software seems good. After all, it is just GNU/Linux/GNOME - all you need to do is get a C compiler and hardware drivers and then it just works. An older video did show major stutter during scrolling but that can probably be mitigated.
What's concerning is the hardware side of things. I don't think many people expected it to actually ship on the original planned release date, but the delay has been getting quite large. All the stuff on their blog is about software running on the dev kit; we have no idea what progress is like on the hardware. Turning it from that bare PCB into a phone is a lot of work.
Their marketing guy also released a video a month or two ago comparing the Librem boot time to that of an old Android phone, complete with OEM crapware. If they have nothing better to do than make such stupid comparisons, then it is hard to believe it isn't vaporware.
