I agree with you historically.

> the incentives to make a company are less than simply get good at raising money and then skim as much as possible

I worry that, with the rules the way they are, the only people who will use them are people that are trying to do this. For instance, the company the OP is about. If you make it actually easier to raise money, more legitimate companies (that want to spend less time on raising money and more time on the company) will use that system.

The internet and reputation effects are enough, I think, to mitigate the valid downsides of past experiments with "very free markets".