Fundamentally, I see it as democratizing investment and removing arbitrary hurdles for those without millions in the bank to seek higher risk/reward investments

Fundamentally, I see it as democratizing investment and removing arbitrary hurdles for those without millions in the bank to seek higher risk/reward investments. In practice, I'm seeing teams doing ICOs do shady things like change the terms halfway through raising capital, leaving early contributors with a diluted stake or teams that straight up don't deliver with no way for share(token?)holders to hold the team accountable - basically this kind of behavior seems a whole lot easier when you took small sums from thousands of nobodies instead of millions from a handful of deep-pocketed somebodies.