Keep telling yourself that about ETH. 
He is right though. I am an ETH bull, but I am not a fan of all these ICOs and presales. Its way too easy for people to get taken advantage of.
I'm also an ETH bull (because Bitcoin is such a creaky relic)... but the DAO is a complete scam/embarrassment.
The DAO was designed on the back of a napkin by a group of ETH millionaires led by Stephen Tual...
Guys who could ** easily ** finance their half-baked Slock.it project...
But why invest even $0.01 of your own money when you can take the entire Ethereum community to the cleaners.
Also, the usual dogmatic, self-righteous suspects here act as if the tiny Crypto Ghetto invented security ICO/IPOs...
When, in fact, this has been business as usual on Wall Street for over 100 years.
My favorite current Wall Street scam...
Is notorious drug/sex fiend John Mcafee's takeover of a microscopic, public web security company MGT at $0.25...
And now after 3 months of shuffling stuff around and even bringing in some Bitcoin luminaries as advisors...
MGT is up 1300% at $3.44... and sports a market cap of $80,000,000. lol
https://finance.yahoo.com/q?s=MGT