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Elements of the system are a protective mechanism for investors from unfair projects. Fraudulent (scam) projects remain outside of the open window of opportunities, which includes only the best, most interesting and economically reasonable ideas. Ideas that pass through the check of the community and get the approval of the majority without the intervention of mechanisms of promotion and pressure, only on the basis of objective data.
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Oh, this is one of the biggest challenges in crypto. Creating a toxic community, artificial demand, false popularity, as a result.
There was so many fraud ICO. ICO made audit of smart contract. I think soon it will be popular the audit of ICO when experts will check the team and ideas of ICO. As I inderstand in Coffe expert will invest own money in ICO that pass the audit.