ICOs: they need money to create new money?

[berluscoin]

I'm not really interested in ICOs, but would like to understand the real purpose of an ICO because, in my opinion, most of them are just an easy way to make a lot of money.
When a new coin is launched, they attract investors, so, basically, they are asking for money to finance their project that is to create money (a new coin).
So, at the end, what they are doing, is to create money from nothing. They create 100 million of a new coin, its value will be 10 cents and they get $10 million from nothing.
Providing that some projects may be real, they really try to solve an existing issue with other coins, but it looks a very good opportunity to become rich without creating anything useful. They know that there will always be someone who is willing to invest in a new coin, so it seems to me that the only important thing is to create a coin, regardless of the project.
Is there something that I'm missing?

[stompix]

The idea, for those that defend coins is that the coins/token will gain value the same way bitcoin did.
And is understandable if you are not looking into the details.

The problem with the tokens or coins that are created via ICO is that they enter the market with a value, which is arbitrary set by the "developers". Since there is no real demand and the users that put the money into the token are somewhat captive there the price is misleading, the 10 million or 500 billion market cap is made of snowflakes.
Also, the total value of those coins is irrelevant.
We've seen this a lot of times already, 1k $ sell and the market cap collapses by millions.

Bitcoin gained the value the hard way (10k for a pizza, 1k for a pizza , 1 BTC for 1000k pizzas) with a free market and demand and offer.
ICO projects are more like fiat (Zimbabwe style)

[berluscoin]

The idea, for those that defend coins is that the coins/token will gain value the same way bitcoin did.
And is understandable if you are not looking into the details.

The problem with the tokens or coins that are created via ICO is that they enter the market with a value, which is arbitrary set by the "developers". Since there is no real demand and the users that put the money into the token are somewhat captive there the price is misleading, the 10 million or 500 billion market cap is made of snowflakes.
Also, the total value of those coins is irrelevant.
We've seen this a lot of times already, 1k $ sell and the market cap collapses by millions.

Bitcoin gained the value the hard way (10k for a pizza, 1k for a pizza , 1 BTC for 1000k pizzas) with a free market and demand and offer.
ICO projects are more like fiat (Zimbabwe style)

So we have a team that creates money from nothing and decide the value of a coin.
Even if the coin gains value on the market, it looks to me that the developers have a win-win situation. If the coin gets fu**ed, they got the money from investors; if the coin gains value, they got the money from investors plus all the coins that they have. In any case, hundreds of thousands dollars, even if they don't create anything useful.