That being said, I think it is still a concept worth pursuing.
Please name the next iteration something less spicy.
The core team was just 2 people and they disbanded?
There was also a steerco for just 2 people?
I’m now even more confused.
but the other usage is to create an entity, and say "this entity is responsible for so and so problem", and humans then sign up to be part of the entity as a formal indication that they are working on this problem. and in this sense of the word it's perfectly fine for a core team to be two people, and for it to officially disband when those people no longer want to be working on the problem for whatever reason. note that they did try to recruit new people to the effort, and if they had succeeded then the "core team" entity would have provided some sort of continuity to the project despite the original people moving on.