The Blue Ribbon Project is actually the "software" part of a super soldier project
Consider the Blue Ribbons' behavior:
- They never conflict with one another
- They work together as a team
- They're loyal and obedient to their leader and (most) authority figures
- Are able to display incredible feats of strength
These are traits that are (debatedly) desirable for a super soldier. In a deleted scene, Calidcott is speaking to some shadowy government types and is promising to "deliver their prototype" as soon as he solves all the "glitches".
Calicott's work is the precursor to the Treadstone program and all the subsequent programs in the Bourne film series
As mentioned above, there are some behaviors exhibited by the Blue Ribbons that are similar to the operatives in the films. On the other hand, given that the research was being done on developing brains (all their agents were adults), you don't want something as obvious as an eye implant that glows red and the glitches and various violent events that ended with several people dead, the powers-that-be probably decided to cut their loses and cancel the Blue Ribbons program and throw Caldicott under the bus.
