IEO's are just a lesser of two evils, theres is still a huge risk these projects fail which most of them do. IEO's just allow investors to dump their bags easier than ever before and leave noobs holding worthless shitcoins. Only ones who will really benefit from this are exchanges.
You could be right.
These sales are scheduled. They are within the exchanges and only members can participate.
It is like the "chronicle of an announced death".
That is, when we see that the sale of millions of shares occurs in 10 seconds, we can only think that the cake had already been distributed and as you say: only crumbs for the assholes.