Personally , I don't think there should be an ICO without whitepaper. The whitepaper bridges the gap between an investor and a company. Can we say a ICO without a whitepaper is a scam? Or what can you say about an ICO without whitepaper
When it's industry standard to provide a white paper I would think any team not providing one is a really bad start. Even if yo didn't believe in white papers for valid reasons I still think you would be compelled to make one as many of your investors would want to see it. So a team not providing one is a huge red NO signal.