This part of the process is usually considered one of the first steps in a successful business.
You're absolutely right, of course. However, I'm reminded of this wonderful (recent) quote by Uber CEO Dara Khosrowshahi:
"Business is actually surprisingly good for everything that the company went through. The part of the business that is not going well is the profitability part. We have some details to work out."
https://www.axios.com/uber-ceo-1516627656-77c68a5a-6d42-4c85...
People actually want to press a button on their phone and have a car show up and take them somewhere seamlessly. Uber has been doing that since they launched.
Doing it profitably and sustainably is another question. But the basis of the enterprise isn't even a little confusing.
My point: a business without actual products people want to use is not viable (contrary to what some appear to think), but a business without profitability is not viable, either.
(you're right, Uber has a slick product, though arguably because they subsidise it.)
The consumer oriented blockchain-natively-dependent projects are not here yet because the protocol layer isn't mature enough.
This isn't just my opinion, but those of the "actual" investors in the blockchain space such as a16z and polychain.
I am preparing new products to match this demand.
Instead of bashing an entire line of business, maybe you should too.
This is delusional. From Apple's Wikipedia:
"Between September 1977 and September 1980, yearly sales grew from $775,000 to $118 million, an average annual growth rate of 533%"
They were selling products that people wanted for profit. Comparing ICOs to this is ludicrous and seems to me to encapsulate the hazy thinking of this entire sector.