Let's see... It's taken Voyager 1 over 44 years to reach a distance of 156 AU, so why would anyone think it's reasonable to fund a space telescope mission that would only start its operations at a minimum of 550 AU? At Voyager's speed, it would take over 150 years to reach that distance. These folks say it'll take them only 25-30 years, meaning they hope their ship will go 46-76% faster. That means they'll be going pretty fast by the time they get to 550 AU, but they'd still have plenty of time to turn around and make their observations before passing 900 AU.
As for the payoff, what can anyone expect from such a mission? After waiting so long for it to actually begin making the observations for which it was designed, hoping that the hardware still works as intended after all that time, it's hard to imagine that we would have the opportunity to properly observe any more than a single promising exoplanet target. After all, if the next nearest target is any more than a very small fraction of a degree in the sky away from the primary target, it would take far too long for the spacecraft and its sunshade to be moved laterally in the correspondingly opposite direction around the sun so that our star would once again be positioned more or less between the telescope and the target.
Of course, all this could change if someone would just develop a much more capable, yet still affordable, propulsion technology for the mission; something like the ion engine from the Dawn mission, but way more efficient and with a nuclear reactor. As for the idea of using a solar sail, it may be possible to use if the spacecraft can first be maneuvered in for a close flyby around the sun (the closer the better) just before heading outwards. However, that's easier said than done, and further away from the sun the sail quickly becomes useless.
Oh, and even if all that works out, let's not forget about how long the round-trip communications with the spacecraft will take: a full week at 550 AU and over 11 days at 900 AU. Therefore, troubleshooting may take months. Also, sending gigabytes of data back to Earth will take years unless the spacecraft has a very powerful transmitter indeed. For comparison, the New Horizons spacecraft has a 2.1 m dish, but when it was at Pluto's distance -- only 40 AU -- it could only manage 1 Kbps. The much older Voyager 1 has a 3.7 m dish, but now only manage 160 bps.
In conclusion, although the idea of this mission is fascinating, it is too impractical.