The plan was never for 170km of The Line to be finished by 2030. The original plan was for 5km. And yes, recent reports are that they've scaled back their ambitions to half that by 2030.

However: 1. That has no bearing on how much they actually spend, which is what was being discussed and 2. Neom is much more than just The Line. As you can see from the YouTube link I posted, Sindalah seems to be on track to open this year, which is part of Neom.

So while Neom overall might be behind schedule (and The Line or other components may never open), it is clearly not an "imaginary" project given that parts of it will open soon.