I think that this is pretty good analysis, and I especially agree with your assessment - the ICO wild west days will probably come to an end soon. ICO's will survive, but they'll need to play more and more by the rules (which will ultimately be better for everyone, though will probably create a short period of panic). Legitimacy is good, and it attracts players with larger resources who have an interest wherever there is money to be made in a way that a team of lawyers can understand (and pursue if they feel cheated).