ICOs take away a lot of credibility for a project. Mainly because the people who invest in them are complete noobies that are only interested in long term gains (they are “pump and dumpers” with 0 interest in using Cardano as a currency) - people with money and no interest in the technology.
So why were X million of Cardano offered to already wealthy people at a ridiculous price of 0.0024 USD? Why not open this or limit the amount of Cardano per ICO client? It seems to be smarter to let a lot of technically inclined people buy limited amounts at a very low price rather than let certain individuals who will do nothing to further the techology get a huge piece of the cake in the start.
In the end this all just makes the project look very scammy (like every other project where an ICO happened).