It is just simply lack of trust of investors anymore in these existing projects especially if it is ICO. Good thing that this seems like an IEO period now and we shall see what's ahead of this.
I remember the booming of ICOs back in the days during 2017, and it slowly faded throughout the consecutive years. It looks like it has relevance to what's happening right now.
You are undoubtedly right, I am very tired of such topics, is it really not clear that all the events in this industry are taking place according to the trend set by large companies and players in this industry. Just accept that IEO will either cease to exist and be replaced by something else, or it will be modernized in such a way that it was no longer effective, so new projects will not come out, it makes sense to go out if you already know that investors will not give them money!?