It’s no secret that public tokensales are on the decline. The trend, which has been accelerating all year, has seen the bulk of the action transition to private and pre-sale rounds, leaving the public to fight over the scraps. To compound the woes of retail investors, gamification has made entry into the most coveted ICOs a lottery in which the odds of admittance are low, and the odds of profiting lower still.
https://news.bitcoin.com/gaining-admission-to-icos-is-literally-a-lottery/
It is much easier to answer to a small group of knowledgeable investors than it is to handle 50,000 users who bombard Telegram constantly with FUD or technical questions that require taking time away from actually working on the project to answer, as if they're even owed an explanation. Decentralization was the goal of crypto at first, but now it is all about making money.
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