"Compared to Ethereum, which people mainly use for Initial Coin Offerings because of its ability to create tokens, Waves is significantly more simple, efficient and cost-effective for essentially the same service":
http://bitcoinist.com/surf-smart-contracts-waves-blockchain/ waves can be third generation of the blockchain after bitcoin and ethereum and it is good for long term investment in waves platform.
To be honest, waves smart contracts are shitty, no one is investing on Waves ico's because the contract is very poor, you need a very good developer and it can cost you more than dozens of thousands of dollars for a single contract.
Please, stop that FUD. If you have something to say please do provide evidence. And as already mentioned no SC yet, but it's just a matter of days until SC is released on testnet (according to latest roadmap)