It's the first time I ever heard of DYCO. But I believe that IEO is not yet dead, because top tier exchange is able to provide the market liquidity needed for the tokens to actually trade.
I also see a few projects that implement DYCO, but it's not really so successful. IEO is currently operating well and brings a lot of profits to investors. As long as the exchange is bad, I believe the IEO will continue to exist