I can see them pulling something off. It probably won't be earth shattering from a technical perspective, it will have some compromises that the crypto space will dislike, their storage service will suck, and "TON Services" will be a slightly nicer interface for an Etherium clone. But that doesn't matter, as long as the payment part works and scales, the interface is good and the marketing is right.

Large adoption can smooth over a lot of flaws, and Telegram has the right tools and vision for achieving that.