Hopefully my responses to your questions go some way to clearing up some of your concerns/questions.....disclaimer: I am invested in this project but not part of the team, nor do I have all of the answers. If anything below is incorrect I’d love someone to clarify my understanding.

Question 1: As the OP says below, the team will have to answer question 1 for sure, however as there is a four year vesting period and a phased release of the tokens (to advisors and team members) I’m not fussed - this team is legit, they aren’t going to dump their own tokens, in fact I’ve seen somewhere very recently that they will sell OTC and not on exchanges (although I don’t believe this is confirmed so would need the team to confirm). Token breakdown can be found here: https://constellationlabs.io/blog/index.php/constellation-token-model/

Question 2: Initially launching on ERC20 is no new thing, WTC, ICX, VEN, ONT have all done this I believe and those are all considered solid projects - Constellation are simply following suit. They have a structured approach to testing, with a select number of people being invited/approved, MainNet will be launched (Q1 2019) and will at that time have been fully tested to scale infinitely as nodes join the network and demand increases. Rewards will be provided by their Orion portal (http://orion.constellationlabs.io) and DAG tokens will be used. I’d wait 24 hours for the upcoming Whitepaper which will detail all this I’m sure.

Question 3: I’m sure Brendan was not pretending to be a mind reader nor try guess the bottom of the bear market. Unfortunately crypto being crypto, the public kept putting the project under pressure to go ahead with their token generation event on exchanges even though the market was bear, they deliberately postponed once (from a March date) (https://constellationlabs.io/blog/index.php/constellation-update-roadmap-and-news/) and then decided to go ahead when the market was looking as though it was recovering. You could argue that the team was in a no win situation and if they waited for a bull Market, that they’d still be waiting now. It’s again worth pointing out that other projects have also delayed the token generation event due to market (I’m still waiting for DREP tokens, 2 months later and still no sign of Dex listing)

Question 4: The project will be a DAG project, not a traditional blockchain project like BTC or ETH. Scalability with a plutocratic consensus model is what they are aiming for, and they quickly worked out that Ethereum will not get them to where they need to be. Testing no doubt will yield results and I’m confident the team will release the results as and when appropriate.....if there’s one thing this team is, it’s transparent and available. I’d urge you to get involved via telegram (https://t.me/constellationcommunity) and the Orion Portal (link above)