Overall conclusion of this post
1- ICO/STO/IEO everything is dead.
2- Only real coins in the market have value.
3- coins are listed in good exchanges and coinmarketcap are more valuable.
IEO is still functioning well, it's not dead yet like your conclusion. There are not many leading exchanges that implement IEO because the current market is freezing and investors do not want to invest in new projects, they focus on Bitcoin and the altcoins listed in the market. I believe that when the market heats up like 2017, IEO will be stronger again