Although I agree with you about the old market, I think today's market is at least better with plenty of regulations and trusted sites so scammers less likely cause rampant like before. At least, IEO is much better than ICO.
it has already happened, IEO are better than ICO, but not all IEO are good,
remember there are still many IEO that are scams, and now the ICO about Defi is also busy, I think hype about ICO are up again