You know, I am a fan of Star Citizen. But, I wouldn't classify myself as a 'fanboy'. However, I totally get where they come from when people make comments such as the ones I have seen above.
Let us discuss a few things and consider the illogical state of statements like "vaporware" or waste of many of anything along those lines.
Did YOU have to buy the game? No. If YOU are bitching about buying the game and it not being released, it is not the companies fault, it is your fault.
The issue most people have with the game is the fact that they don't understand how development works. Nobody here can safely say that they have EVER played a game A- this early in its development phase, and B- of this scope.
Let us use a game title with relevancy right now, RDR2. Anyone know how many years it has been in development? Well, most credible sources give it between 5 and 8 years. What is fascinating about that is that NOBODY here saw the game in its state 4-8 years ago. At all. And, one must remember that the game is VASTLY more minute in scale and technical acheivement.
So, is Star Citizen taking FOREVER to be completed? The answer is a resounding no. If you compare it to a lot of titles, then it has a very very similar development if not a MUCH faster development time when you consider what is actually going into the game.
A few truths though. Did they miss deadlines? Yes, in fact they missed the 3.3 Live release deadline 2 days ago. But, the reason is because the scope of the game has increased drastically. Is this a problem? I guess. Feature creep can be a problem but one must remember that this game is run by the backers effectively. They don't have shareholders or publishing companies to deal with. And so the game they are making currently is a result of what the Star Citizen community wants.
The biggest issue with the game and people understanding how the game works and is being made is the development issue. Nobody has ever experienced early development like this on such a scale and so people bitch about it not being ready. And yet if you played RDR2 2 or 3 years ago, or Skyrim before it was released, or Elite, or anything really. You likely would have similar comments and statements to make.
Also, the game does not have a pay to win nature at all. Ships don't mean you win. A big ship is not inherently better than a smaller ship. They perform different functions and have different roles. And, take note, that ship sales are artificially controlled so that we DON'T have a million capital class ships flying around because that would be unrealistic.
Give it time. Also, they are nowhere near running out of money. I can't find the link yet but they were profitable last year.
The game has 2 money making models. Pledges which involve ship sales. If you buy a ship then you directly support the game creation. Then they have merch sales, events, subscriptions, etc etc etc. That is the profit model for now at least until release.