Quite a few companies have gone down the crypto ICO route to raise funds instead of dealing with traditional investors / VCs, which I think is a great (albeit unregulated) way to raise some money without giving out a huge chunk of your company. It's also an easier way to raise money without having an actual product in hand.

It's just unfortunate though that ICOs have a bad rep due to greed and the fact that a lot of the ICOs that happen are scams and will never deliver an actual product.