These ICO's wouldn't stand a chance in conventional venture financing.

A cute website with a buzzwords filled whitepaper (if you're lucky) without any coherent business model let alone a balance sheet? Tokens like Dentacoin and Primalbase would get laughed in their faces if they tried real investment firms at best and get jail time at worst. 

They're relying on a lower point of access, less regulation and more internet fairy dust to lure in inexperienced people. It's just like Jordan Belmont starting to sell penny-stock to average people pretending they were highly rated companies.  

Token regulation has to happen and it has to happen fast. These things should be classed as any other securities scheme before this charade ends up creating so much blowback that it hurts the rest of crypto.