An escrow ICO is a must in couple years. When no one is willing invest traditional ICO. We are not there yet but, we will definitely get there. There is no problem for legit team and project. It targets scam mostly.
You are right, it is possible only through with the Escrow but how long he should the funds in order to distribute the fund to the company, i think governments should control the escrow activity because they will release the amount to the company one the basis of the developments they do.