Yes, IEO is very profitable. I think you are wrong about "IEO is profitable only for those who invested in token sales". I once did not follow IEO Cubiex from Binance DEX. And I bought it at the bottom price. Because at that time, many people immediately sold it, so Cubiex prices dropped. A few days after that, Cubiex prices rise again. And from there it is proven, if not only people who participate in IEO can profit.