I saw quite a few projects that successfully completed the ICO last year. At the same time, this is usually a successful business, not a startup. They are mostly all from Japan and Southeast Asia, if I'm not mistaken...
And it seems to me that if everything is regulated, then the ICO will certainly have a future, since it is now a good tool for attracting investments and many large companies use it
I think you are mistaken. On the contrary, this way of investing is used by start-up companies, while the large ones prefer the traditional ways of financing.