For me the main reason I wouldn't participate in an ICO that requires KYC (never say never though), is because since there is no guarantee the ICO will be successful or even meet its softcap, why should I share my info with a project that might not even launch? Why should they make more money for selling my data? ... Please note I always research every project I invest in, in depth, but wanting it or not, luck also plays a factor in the success of the project.