First of all, welcome!
If you're in any doubt as to the health of the Lightworks project, just browse through this incredibly active forum. Whatever the ultimate destiny of Lightworks, surely the fact that it's owners, Editshare, have a paid, full-time team of developers working on it (and forum moderators, etc) must tell you that they're serious about it. As for timescales - there's been a lot of activity behind the scenes, which is why on the surface things might seem slow, but rest assured things are moving in a very positive direction.
Why would Editshare give it away? I don't know any more than you do, except to note that since Editshare provides the means for editors to work together (amongst their ever more encompassing product range), the more editors there are, the more the need for a collaborative system.
Remember, though, that this is a beta product at this stage, and that the normal disclaimers apply. It's also the case that Codec support is thin at the moment, because good codecs normally require paying for, and this doesn't sit well with a free product. But this will improve in the near future.
So sit back and enjoy Lightworks, and be prepared for something that's different from anything you've seen before. It might be frustrating as you learn it, but if you do, you'll be rewarded with a top-end, incredibly fast editor, that didn't cost a cent/penny/dinar/euro/etc