The network is centralized and unusable.
There is no real world use case, and additionally the architecture is optimized for Trinary which is weird for IOT hardware because it's not mass produced to the scale of normal binary hardware.
"not mass produced to the scale of normal binary hardware" is the understatement of the century -- other than that completely agree, IOTA is an absolute fraud.
"Distribution is complete" - how was the supply created and distributed?
Hint, the supply was "premined" and a the creator chose to gift a very small percent of the supply out to users in order to incentivize them to promote it.
You can not mine or create nano (raiblocks), you must purchase it from the dev who created the supply.