I think I am on the same side with you man. I don't understand why blockchain is fully anonymous yet ICO project manager and bounty managers still want to do kyc. I think they monetize our personal data. Currently I have been receiving emails from projects I have not even sign up for. My telegram contacts keep increasing for no reason. I dont support KYC either and I wish there are other ways to check legitimacy aside KYC.
I dont think that their is any other option apart from KYC to check the investors are genuine and the funds invested in ICO are legal and their is not any money laundering in any ICO. But due to some ICO which are from country where i dont think that KYC needed as their is still not any legal status or regulations regarding crypto currency usage. So we have to check which ICO you are investing and whether they are genuine or not, then only you can give your KYC documents.