That is true, but with IEO this days, projects become less scam, and more trusted
That's only if the IEO takes place or happened on a better exchange, many IEO projects failed because of bad rated exchanges, if team can chose right then they won't fall victim to bad exchanges, binance , Okex, huobi has better rating
Every day I see a lot of IEO fail at small exchanges. If you go to Chainx, P2PB2P, Latoken .. I believe you will see huge junk, and most of those projects have failed IEO or become scam after the end of IEO. IEO is only good when you enter the top exchanges in this market