I also think its better to lock the tokens for a minimum of 3 years to increase its value over time. Some projects was able to make it work and the demand for those tokens are getting much higher instead of immidiately selling it when it gets listed on exchanges.
This will be impossible tho, if their investors know that their token matrix will be like this then no one will be interested, they would rather use their funds and invest it in projects where they can earn in a short period of time.
On the contrary, now investors only lose money, because the prices when listing on the exchange are often very low, below the price of the ICO. To lock the tokens at least for 1 year would solve this problem.