On the plus side, token sales are actually mainstream - so companies will actually be able to choose this hacked together version of the old public securities model and controlling their own destiny via DAOs and, well, simply setting up shop outside of the US. Choice is a good thing for companies, and it's a clever compromise - but if the only way VCs can invest is with hacks like this, I'm not feeling bullish on America's chance of participating in this new economy.