I'm highly sceptical of this shipping in a state that can compete with Adobe at the end of it all. The branding itself is asking for trouble, which is just plain stupid if you are serious about long-term and sustainable development of the whole suite, and 180k is not enough to even put together a competent alternative to Illustrator, not to mention Photoshop and InDesign.
And before people start claiming that you can fund this by outsourcing to Eastern Europe / India etc, please bear in mind that you usually get what you pay for. A competent developer with enough experience to actually make this happen won't come cheap, and opportunistic juniors with big ambitions won't deliver.
I wish this project all the luck it can get, but I'm personally banking on Graphite and Inkscape from the FOSS world and Affinity suite from (as of yet) less corpo commercial offerings.