From what I understand, there is no connection between the old application and the new one. So it's not as misleading as you portray.
Their history deserves mentioning and is likely what put them in a position to be able to launch, market and scale effectively. The users may not be the same, but the strategies and the tactics used to get there are likely based on previous experiences as well as having some great people get them this far.
Obviously this community isn't the target of their post, but I would be even more interested in hearing the whole story: how they went from zero to 55K customers in 7 months, lost almost all of them, and then scaled it back up to a million users in two weeks