You are right, there is no guarantee of a successful IEO project.
even though a popular exchanger held an IEO, I was afraid that the IEO would only be used when ICO was abandoned. Finally, the IEO only produces shitcoin which is popular at the beginning and eventually dies.
Nope, I don't think IEO only produces shitcoin, but I agree most of the result is the same, the main difference is that they are automatically listed on exchange than normal ICO projects. Listing never guarantees project development, but with that a project has an access to capital market and it's useful whenever they need additional funds for development. I do believe, even there are a lot of bad projects produced by ICO/IEO, there are also good project that are waiting for a good time to develop useful stuffs for our future lives.
all fell and in the end only benefited the market, investors were trapped by the popularity of Exchangers while coins continued to be thrown away.