I really think these IEO thing is only good for the top exchanges and these is because they have the liquidity and the traders to pump a coin after listing, which is why their IEO projects are usually successful.
But the smaller exchange don't have the same and their IEO success rate is no way near the top exchanges. Maybe 2 out of 10 IEOs conducted on the small exchanges would succeed, while top exchanges boast of a success rate of like 9 out of 10.
yeah what you said is true, IEOs are now a business for every big exchange and as you said IEO on the big exchange will be more successful than a small exchange.
I've never even heard of IEOs that succeed on a small exchange.