Yeah, I see your point and I feel you're right. The problem is there's no funding in the federated web. The business model of the web is ads, and that's a disaster, because pump.io doesn't have a way to make sure the users see ads. (Which is a good thing).
I very much appreciate what's been done this far. I agree with you that pump.io deserves a future.
I think the tough thing that we all have to realize is that pump.io is going to be like old-school Free Software. It's going to require volunteer labor to make it go. Those who have written clients as volunteers and send patch requests upstream as such are really good.
Remember everyone (including myself in that) that volunteer-run Free Software is better in the long run but takes time to get developed.