I personally feel it was pretty gross behavior (in many, but not all, cases), and the people who did the egregious ones mostly knew at the time that they were doing a zero sum wealth transfer to themselves.
I personally avoid working with people who were involved in ICOs and SPACs where at the time of issuance a reasonable analysis could've shown that it was grossly overpriced to the public investors it was sold to (because in those cases, I believe that the issuer themselves should've known, and shouldn't have proceeded).