This is a great post and it's really important for people to understand this.

Unfortunately, ico's allow the easy access to funding an exciting startup, whether or not it needs blockchain. There really are very few projects that separate themselves from the pack and investors who are new to the space have underdeveloped BS detectors.

Fewer people are aware of this but some of the most innovative breakthroughs in blockchain come from independently supported research projects and don't even use a coin. Thanks for bringing attention to what no-one wants to hear.