There are so much models of fundraising and you never know what is going to be next. Some projects do not want to hold an IEO, because the prices are too high and still doing a regular ICO, some projects even with a big success.
Since many scammers in 2018, after that came various kinds of fundraising. I know their purpose is only to attract investors' attention and provide a sense of security in their investments, but project developers must have the initial capital to list their projects in raising funds in exchange.
I myself do not have a problem with various fundraising activities, as long as investors and developers can provide their own benefits and do not violate the rules of their rights and obligations.