I really appreciate your statements. This is like the way I think also. I think the most disturbing issue of ICOs is the failure of showing final product. This reduces my trust on ICOs
This is the common problem in investing ICO once those developer get the money the development is too slow and the price will collapse as those investors will dumps their token due to no progress on making the real product. Investors will be the loser as those developer will enjoy their collected funds.