I can't say having the development be private is a bad thing at all, as it ensures the quality of the code itself
Errors in code will lead to bugs in programm itself, so when we see no bugs during work of the application - there are no errors in code.
For example, somebody downloaded the source, compiled and uploaded to any board with the link to Modcraft. So, the forum will be full of "pls help me noggit crashes every 5 mins".
There is _no_ reason to be private.
My current project: Nothing
Only releasing code on some open repository is not realy usefull to bring some benefit to a project.
I don´t know how much frustrated post and direct privat messages I got in the last year form coders that even don´t get the QT version to compile.
If open source then the rigareht way.