The tidbit that makes me personally think that it's not a scam is the P4. Really. If the goal is to scam people, the P3 is all you need. Looks good (better than the P4 by many opinions). Drives around. Checkpoint met. There is no need for the P4 to run the scam. Why spend all the money associated with building the P4 when you've got everything you need to run the scam in the P3? Doesn't make sense. Ergo, Elio is legit on intent.
As for whether or not the business is viable (a totally different question, of course), time will tell.
As for whether or not the business is viable (a totally different question, of course), time will tell.