It was a little messy tbh, but given how most promising ICO's seem to sell out via the whales in the first hour I think they did alright.
The first hour was fair, giving a cap on the amount raised was great and should be a standard moving forward.
Neo / RedPulse did drop the ball with the timing and email release.
I wasn't too phased about the email release though, there was no real rush in the first hour and I was emailed the script hash a few minutes before that opened anyway.
The Neon Wallet was very last minute (I'm appreciative) but minor technical issues with messages not staying up for long enough and initial lack of balance confused a lot of people a lot.
I didn't participate in the round 2 so I can't comment.
Good news is Neo team is very responsive and will use this a learning experience for future ICO's I think.
I don't think many whales bough large qty as the limit was 27 for the first round? from what I saw it didn't last too long.