They had bad luck with timing and i think 17 days is still a short ICO compared to most of the others which last for one month.
When you are trying to raise millions of dollars and gain investors' trust, you better do your homework and don't count on luck.
Perhaps they should've spent less time reiterating what a success the ICO has been upon hitting its soft cap. It totally contradicts their decision to extend the ICO, no matter market conditions and what not.