The point is that nxt did the IPO already and maybe you should compare it to other already done or nearly complete IPOs better (Mastercoin, Counterparty? - but i didn't really study them) but not to some IPOs still ongoing and with no finishing-line in sight (NEM, emunie, Ethereum) because also the time after the IPO and the development of the market-price has to be taken into consideration.

Bitshares is also happening right now and it seems the found a way to make it happen in a "civilized way" somehow but only with the addition of Angelshares, Protoshares as a single mean of IPO was a fail because of the strain done by the centralized nature of the mining process but of course this is also the opinion of a (too) late comer in this regard   .