A lot of people in the scientific community had suggested for a while that glucose levels in eye fluid were not sufficiently correlated to blood glucose levels for glucose measured in tear fluid to be clinically useful. So even if you could detect glucose in eye fluid, it wouldn't help you manage disease. In the eyes of some this was an obvious limitation that the company brushed aside, and there was a fair amount of hype around it, so there were some ppl calling it vaporware
Although some of the core tech around engineering all the sensors, battery, Bluetooth etc into a contact lens is pretty cool. There are a lot of patents from the inventor, brian Otis (who wrote the blog post), if you want to take a look.
But based on the blog post it seems like they were having trouble measuring glucose in tear fluid, which is one step upstream from the aforementioned issue around lack of correlation btw eye and blood glucose. If you can't accurately measure the analyte it doesn't really matter if it's correlated w disease