I don't like ethereum going ahead with the ICO while they are yet to finalise their most basic operation - PoW. With that not out, how can one even trust them with their money. Add to it the fact that the ICO will form majority of the coins in circulation for a year or two - it is just bad. Though I don't think there will be a cheap fork.
One of the best conditions in the ICO are - They are not obliged to return the money if they fail to deliver. Yep! so basically a crowdfunding without a commitment. Hell even btctalk's scam ICO's are better than that.
Thats a big flag for me. The entire thing reeks of a lot of greed. The initial botched IPO and now this.
I don't doubt there will be some decent product at the least, but I doubt the investors will benefit much. The developers have covered their profits.