Without ICO, how you're gonna keep your token or project running if you will base on your own fundings or capital. It's not gonna last long if you just simply sold your token like that. You really need crowdfunding, because it is where the investors will also know your intention inside the cryptocurrency. If you crowdfund your ICO, then it also has the potential to spread good words from other people about the project you proposed. Let's accept that people don't trust ICOs that much because there is always a risk even if the project successfully sold the tokens and they got a great sales. You should do an ICO when you want to build a crypto currency but you need to work hard on it so people will trust you with all their money.