To be honest i don't blame people for asking 100 millions if they just get more by asking it. But the investors were also greedy to think that it would be easy to rise value after so huge market caps.
Strangest is how some of these ICO's that managed 100m+ are already going bankrupt by now. How do you spend 100m in a year (not counting the price decrease)
If you got $100M when ETH was at 1,000 and you sold it when it was $100 it's pretty simple to know how they ended up in bankrupt, make the count as an ICO raised $1M and you get why (besides broken business plans of course)
No, the ICOs if they are intelligent they transfer investors' harvests from crypto to fiat.
And, leave only to speculation what they are capable of losing