Also, you are begging the question compared to your remark about how ICOs and stocks are similar in your top level post.
Which brings me to the next point: this expectation you speak of is part of the irrationality. Suppose there was a company that publicly stated that it would never give out dividends, but it was making bank. People like yourself would assume at some point in the future dividends would be paid out and therefore what you stated would apply, even if no dividends were never paid out (assuming the company's trajectory and what not stayed the same).
You also seem to imply the "expectation" of the market is always correct or rational. We both know that's not true, either.
Why would we do that?