Not alarming, but a bit concerning. It's developed by a single developer who has also developed Pixelfed, fedidb.org, fediverse.info and others.
It's not like this is some new, anonymous actor on the fediverse. He does a lot of projects, all at the same time in addition to working a day job. That doesn't excuse not releasing source code and license, but that could explain why some parts of the projects are prioritized.