it all depends on the concept of the project itself. if it reaches hardcap, but their concept is less interesting, it can even be said that it doesn't develop in the future, it won't affect anything. but if a project is in a good hardcap concept and not of course they will succeed. I gave one example. oyster. they did not reach the selling price of tokens but the concept was good and the project was developed. and the price of their coins soared.
I agree, everything goes back to the concept of the project itself. If the project is good and the developer team uses the money to build and develop the products, I think it will affect investor confidence, but many projects that once the target is achieved, communication is no longer intensive with the community