Personally, I'd avoid an anthology for which the editor has not yet got the funds to pay writers. Your story could be sitting in limbo for a long time before the antho goes under, or before the editor scrapes up enough to pay you one cent per word, or until you're asked to donate the story for free:
Even raising $1500 USD will be daunting. I honestly don’t know if I can do it. If I can’t then the anthology won’t be published, unless the writers themselves wanted to go ahead, and that would have to be a consensus.
At the high end of the projected pay rate -- 5 cents/word -- the editor will have to raise $5000. Where is this going to come from?
I’m not sure when I will begin accepting donations.
It sounds scarily like authors are expected to donate money so that they can get their stories accepted and recoup some of their donation via the payment for their story.
How is the antho going to sell thousands of copies? It will presumably be published by Genreverse Books, which appears to have zero books published to date. The editor's credits seem to be limited to the Kunlun Journal, which put out precisely one issue and then went on hiatus.
I'm getting the feel that this is a self-appointed editor with a passion for a niche subject but zero qualifications, who is hoping that the world will support him and share his passion.