As someone who's been aware of this game since it was announced, here's my take: the supposed hook for this game is the level editor and it's something that was emphasised from day one but that's putting the cart before the horse: if people aren't already invested in your game and aren't already sure it'll be fun, they won't care that it has UGC and it won't factor into their decision to buy the game, nor will people factor it into their decision vis-a-vis price.
Take away the editor and what's left? A run-of-the-mill puzzle-platformer that does nothing to recommend itself over the multitude of puzzle-platformers already available for 3DS, save for a higher price tag and an apparently awful name.
Renegade Kid's games have always been overpriced but more than that, they just aren't great games--they've always been very generic, check-the-box experiences that rarely do anything novel or exciting and don't compare favourably to similar games by other developers.
I've always followed Jools' work because I respect his passion and his willingness to share his experiences with the eShop but he obviously got lucky with Mutant Mudds and he can't expect to repeat that success again without qualitative improvements to his output.
RE: the 3DS as a viable platform, I don't think it's as unviable as this thread makes it out to be (especially in Japan) but this is exactly the wrong game at the wrong time. There's still an audience on 3DS for the typical Inti Creates game, for example, but not for a casual puzzle-platformer at a premium price.
