It's not strange at all, since unfortunately the average person who bought into these ICO's thought they were similar to IPOs (and that was the dubious intentio

It's not strange at all, since unfortunately the average person who bought into these ICO's thought they were similar to IPOs (and that was the dubious intention behind calling them "ICO's"). You can look through thousands of reddit posts of people thinking they were "getting in early" on some hot new tech company. You're living in a fantasy world if you think even a sizable minority gave money to ICOs knowing it was basically a donation.