working to build out the infrastructure necessary to
  manage photos and videos **from what it hopes** will be
  hundreds of millions of users.

Emphasis mine. I especially like that part.

They've been tricked by their investors that they've already succeeded. That they already have won the market for photosharing apps, yet all they have is a domain name, a crummy unfinished product and a lot of PR. How can they possibly NOT get those millions of users with this kind of marketing hype and capital?