This information hundred percent correct, we should don't expect huge pump after IEO success even if IEO in top exchange like Binance or Bitforex. IEO already fixed scam problem, but this is not focusing that after reached hardcap this token couldn't pump even Binance or high exchange.
You're right, IEO already prove that he is able to overcome a scam except it's running on bad exchange that didn't get trusted yet, after that it depends on how we see a project and explore it. What's need to know is that the fate of all projects will not be same,