Because they are the answer on how to gain back the confidence of the investors in the crypto space.
With the advent of IEO, investors feel safer with investing, although the number of projects that has come into existence is now limited but we can ensure that majority of them are good projects. I believe we quality projects more than quantity alone.
I agree with your statement, it's all about creating a safe space for investors and most likely building their confidence in the said project. On a personal note, I can of think it is a grand scheme to also eliminate bounty hunters who often accused of dumping prices