It's become pretty apparent that because of ICO boom there is no way a pure crypto-currency (one launched with own chain right away) can't be functional at launch without a premine.

When these ICOs can just raise millions with no chain and then pay for exchange listings, development and marketing with the money they received they gain a huge advantage! Do you know how expensive it is to get listed on exchanges now-a-days?

Yes it requires some trust in the core team but they have massive incentive to stay transparent and open with the community, its the only way the coin and their investment grows.