It would be more honest to say that it was all hype to begin with.
"These guys make F-16 fighter jets. If they can invade Afghanistan and Iraq, they can build a speedskating suit."
It reminds me of the Nike onesies that some of the sprinters and hurdlers wore Moscow. They looked like they were competing in red longjohns and they weren't any faster than if they had bare arms and legs.
Maybe this stuff makes a difference in water but I'd like to see some proof that it matters to runners or skaters.