ICO ? OMG ! Are ICOs full of shit? -discussion.

ICOs are raising hundreds of millions of dollars all around the world, a lot of which are doing so on the back of some pretty mediocre pitches,
But let's set aside my opinions on their value. I want to talk about these facts:

The latest record breaking ICO raised $185,000,000 in five days. All off the back of speculators assuming that they're getting in for cheap to somewhere down the line make big dollars.

But these are basically software companies. What could they possibly need $185 mil for?

Consider this:
SpaceX designs and builds rockets. Their first THREE attempts failed. And the company would have been destroyed had it not been for the companies first outside investor... Up until that point, they had achieved this on $100 million.
and they build rockets!

It seems a bit odd to me that designing some sort of blockchain system requires more capital that designing, building, and launching rockets.
So I'm genuinely interested. I'm not trolling on ICOs... I'm just suss on them. If anyone can explain to me why they all need so much money I'd love to hear it.

-Please resteem this to open this discussion up to more people. Someone surely has some good insight.