The fact that they don't release the code is not something good in this space.
Other startups are releasing code to move the trust from them to the technology and to guarantee that they are not manipulating the data (not because they are not able to prove their value with results as you said). This is the basics of the distributed trust even in bitcoin and all the other "real" distributed blockchains.
If they don't show the code, how can i check if the system is doing what they promise? In this way i need to put my trust in them and not in the technology and this is the completely opposite purpose of a blockchain (actually in this way they don't even need a blockchain...).