No, my comment is based primarily on the narrow scope of the publication, which to my mind, as a lifelong publisher of online and offline media, seems excessive. If they were using an ICO to raise the same amount of money for the same project scope I'd also think that excessive.

As for my own project, we have a much wider goal (to convert all the world's news -- past and present -- into data that can be used as a platform for applications) that obviously requires far more investment than a niche content site.