I agree with this, a tangible product, a working prototype would be so much better than just something that is based on pure theory. ICO projects with products are more likely to convince and gain people's trust that their project is real and can provide a better view on its path to success since you already have the working prototype or the product itself. In this industry that is so risky why would you go for something so much riskier if there are project that can provide you more for lesser risks.