The KYC procedure makes this very difficult.
Yes. In this respect KYC is important but small investors lose their anonymity.
Is it only the small investors are losing their anonymity? All investors must go through KYC procedure no matter how many tokens they are going to buy.
You always have a choice, to participate in ICO or to buy tokens on the exchanges. Sometimes you to buy tokens on exchanges cheaper then ICO price. It depends on the project popularity and many other factors.