Yes, I only incidentally looked through the whitepaper because I kept seeing people harping on about how great ONO will be... on steemit of all places, and got annoyed enough to give it a read for the lulz. The extreme front-loading of the project and the desire to extract even more via a continuous cut of some aspects of the project leads me to believe it's a pretty big cashgrab trying to ride on the back of a trending project.
Ethics aside I'm sure that most people would jump at the chance to cash out like that in their youth as opposed to what, do actual work for the rest of their lives for a pittance in comparison? So I can't blame them any more than I can any of the other people involved in opaquely greedy ico's.