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I had the same issue on first start of v1.0.2. (IPad Pro 2nd gen 12.9"). But I ignored it and it's been fine since.
Had the same problem, deleted some unused apps to free up some space. I can open projects now, but the app still only says I have 6GB of free space when I have over 60 GB available!
No dice for me. 12 gigs available. I'll wait for the fix.
I'm sorry this is happening. The team has been looking into this steadily since we started hearing reports yesterday.
They believe that it has something to do with discrepancy between the estimate of storage space reported by iOS and the storage space reported by Fresco.
As soon as they get to the bottom of it I'll post their findings.