Does have a richard heart behind it? no. is it a ponzi if it's honest that it's a ponzi? hmm. does it distract newcomers mainfocus which should be on hex toward something else which can never be as good as hex itself? yes.
It offers nothing but segwit and ln perhaps soon. Nothing unique that people will need and make them prefer ltc over bitcoin. There are plenty of projects offering something unique. No-one is gonna use ltc