Why not? IEOs have a format in which the number of free places is limited, which means that projects, in theory, will always be profitable, because demand will always exceed supply, which means those lucky ones who fall into the sale will always earn. As long as IEO brings money, it will exist. Like any other financial instrument.
I don' think so. I think IEOs kill liberty of project. It is more like Binance's IEO rather than Project's IEO. In case of IEO, exchange exercise much more control over project which is not good for success of project in long term. Also exchanges charge huge commission from projects which is kind of deceiving investors. This all kills the seriousness of project and make it another shitcoin in market.