I disagree. The original intent for ICO's was (and is) honorable, as is crowd funding. We have to get out of this mindset that ICO's are inherently fraudulent. The early days of the internet were rife with scams and fraud (and it still is). That doesn't make the internet 'a way to figure out how to rip people off'.

The big banks would love everyone to think ICO's are wild west country, just as the early days of open source were laughed out of the room as crazy give aways of ip. Look were we are now with Oracle 'openworld' a few years later...