In our example, ceiling sales (15000 satoshi) and base purchase (12000 satoshi) prices are different. This difference is for meeting all the token amount that can be circulated. I suggest you review the system.
Even an 80% refund is far too generous. If all ICOs took this approach then a lot of the negative side of investing would be removed. If the most you can ever lose is 20% you only need to find 1 100% increase in every 6 ICOs you invest in, that's far too favorable of an investment situation and completely unsustainable. The unfortunate fact of any market is that in order for someone to profit from something by trading then someone needs to be on the losing side of things. Right now a lot of ICOs are beginning to trade at 50% or less of ICO price but still people are flocking to them because they know if they hit the one good ICO it would outweigh the negative ones. You also need to consider that the primary purpose of an ICO isn't to profit immediately on token listing, it's a fundraising event and most investors have a longer term outlook.