True, because a serious project nowadays spend for the listed in big exchange, unlike before that they can easily raise money from ICO without taking out from their personal pocket as their investment. Now, things have changed, since ICO is not anymore selling and IEO is the new trend, they are force to invest for the project to be listed in big exchange and to have a good opportunity to raise the target funds, thus, it helps reduce the scammers in the space as most scammers are just running ICO.