I guess history is destined to repeat. Over and over again.
The first company I witnessed to basically pre-mine all their coins, crowdsale the majority (~80%) of their coins to a select few investors (in return for btc I might add), and allow the remaining tiny float to be bid up quickly by Average Joe retail buyers was Nxt. Nxt had a single developer who basically controlled everything. The source was closed, at least in the beginning. And we can see from history how that all turned out. (Of course Nxt is getting pumped again now like every other shitcoin).
And Nxt arguably had an actual working wallet before they even did their crowdsale, and was working on an integrated marketplace. These Eth ICOs have nothing but slick marketing and over promises.
Someone correct me if I got the facts wrong.