The only profitable IEO is the one running on Binance and I think that will end soon after the hype ends people thinks that IEO is Binance invention but in fact, there are other exchanges that started with IEO before Binance but of course there IEO was not profitable the same Binanace IEO is right now, if you look around into other IEO running right now on other exchanges you will see it is a disaster some of them did not manage to raise even $10,000 and even if they did raise good money the price after listing is meh. Os comparing IEO to ICO the only good thing about IEO is the instant listing other that nothing much different.