If you start a business and ask the bank for $10m they will throw you out on the street. ICOs should set a much lower and realistic softcap, even $1m or $2m is enough for most of these projects in the ANN thread.
Do you think they really need millions of dollars for a team to develop a program and then market it afterwards?
Entirely depend on what project they would tend to built or proposed even if you do tried to sum up all of the expense (labor, development) it wont really require millions of dollars which coming
to a point on where setting out a hard cap which is really very hard to reach out.I would say that they are entirely getting greedy because not all projects are really legit ones.
I have remembered the past where projects do only ask out $1M-4M which is a realistic goal.