sometime after they can no longer ransom off small amounts of their personal stack for 20-50x what they sold it to themselves for
What underwriting for an IPO of a public stock is ever any different than that.
I understand your complaint is you want ICOs to be very visible and open to everyone on a equal availability basis. I think that makes the most sense as well, because you raise the most money for the developers. But I guess they have a different strategy.
Why be so jealous? You missed one. Move on. There will be many others. You win some, you lose some. Anal retention isn't healthy (and I say that sincerely, not being against you).