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?
They need to be sure for the project to be launched, so we should not blame them. Moreover, it is up to you to choose, would you make an investment or not.