I really appreciate the critical review of this ICO and I agree with many of the points. I would like to say though that this type of ICO which reduces the likelihood of huge returns in a short period of time may be a good thing for the sector in the long run.

It means investors would need to believe in the long term prosperity of the company they are investing in. So we should see a large reduction in pure FOMO speculators investing in crappy ideas that are eventually going to crash spectacularly.

This should drive the industry to change the way they operate. Companies would need to actually deliver throughout their protracted ICO period in order to get the most value for their tokens. It also means investors would be doing more due diligence to ensure the company/team they are investing in are dependable and trustworthy.