What i don't understand is, what do you pay attention to when you invest money to the token/coin? to exchange? Nowadays there are so many potential token that none of them is in the first 10 exchange. In my opinion, it is sufficient that the exchanges aren't scam and have a small fee.
I know what you mean. Listing on top exchange needs listing fee and pass many criteria, it's reality.
But we all know that, it is the more easy way for exchange to classify whether the tokens trustworthy or not.
For us, we can trust those exchange if they have a strict policy on listing icon.