I tend to disagree to a certian extent, most ICOs are scams infact majority of them.
It is only in ICO you will see a project achieving Hardcap and still refuse to list, with the excuse they are working on their project which then runs into months.
Some will achieve Hardcap and still list on terrible exchange, then abandon the project altogether.
Most will just exit scam, infact there are many ill activities in ICOs, only a little percent of ICOs really offered what they promised at least to a certain extent.

But in IEOs investors now have the power to chose which project to support or not without bothering about when they project will list etc.