While limiting myself to why C is not correct
I have no reason to doubt the ‘they’ has no referent. It does have. i.e. ‘
features’; so C can not be faulted on that count. The problem is more with the tense
The first part of the sub clause introduced by which, has ‘
are’ as its verb, a simple present, while the second part introduced by ‘that’ has
‘have constituted’ as its verb, a present perfect, which in my opinion is structurally unparallel. Second, logically when we pronounce something as ‘has/have constituted’ we intend to mean that something has been started in the past, it has continued until the present and plausibly may continue for some more time, but can not say whether it will continue for a long time. But the text seeks to say that the features will continue to be unrealistic for quite some time to come, and hence the proper verb to describe such a phenomenon should be a present tense. Hence ‘they have constituted’ in C is the culprit
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