I totally agree with all your points but the issue now with IEO is that it still requires lots of funds by the company to be listed on an exchange.

I understand that we still have some companies that have capital before they start raising more funds but 70% of ICOs starts crowd funding from zero. This is one of the reasons why I believe that ICOs might not completely go into extinction, just that its relevance to crowdfunding projects might be minimal and there will be too many bounty hunters without many campaigns.