Before someone tears into my thoughts, im just saying I might be completely off and Im new to this forum, so have some mercy.
But what I see with EOS is that they raised and still are raising a huge portion of ETH Market
lets say they manage to raise 500 Million + USD worth of ETH - Considering the current markt cap of ETH - Around 30 Billion USD
this means that they own about 16%+ of the ETH market cap. and the more they raise the more they own.
Maybe they need all that funding, not for development (Totally agree that its major overkill), but to completely flood the market with ETH causing a huge supply and inducing massive panic among ETH holders. Also you might say that by them flooding the market they are hurting themselves as the ETH price drops, but its like a poison pill, you hurt yourself but your competitor more. (plus this whole year and already cashing in enough ETH to develop their tech, means that they would be ready to replace/seriously compete with ETH)
We have seen in the past that ICO's selling ETH to raise fiat for investments have caused panic. Imagine what 500 million or a billion would do the ETH.
They want to be the ETH competitor, so I could figure out multiple ways how having a huge portion of competitors coins could be advantageous, once you are ready and have developed your own tech.
But then again maybe im missing something very obvious.

If this strategy is a legitimate strategy, it could be smart.
Personally I would only considering buying EOS at around 0.10 and see what their methods will be in when the ICO ends.