That's why I didn't bother to participate in their ICO. 355 days of ICO and your coin can be deemed invaluable and has no value in their product. What? Plus, the founder/dev has worked on Steem, Bitshares, now EOS. None has become a fully production finalized project. What does this say about him? Just hop from one project to another for that quick money grab.
It does seem quite outrageous to be honest.
Unfortunately majority will most likely end up participating in the initial ICO regardless of how overpriced post-ICO tokens will become. Even if the purchasing agreement was solid, Tokens will remain lackluster at best until issues including overpricing are resolved at a later stage. I'm also beginning to think many are quite ignorant of the fact that EOS is in its development stage (preliminary at best) and we simply don't have enough data to analyze its immediate worth.
In any case, let's see what happens :)
Agreed. EOS already stated they won't release their platform for another year. So for 1 year while this ICO is running it will be all speculative. Nothing real to drive the price up. Then after a year they can run with the money. Who knows.