I like to think that some of them at least try to advertise them fairly (as some kind of crypto-kickstarter campaign), but I agree that any company that raises millions in a few days or mere hours without owing anybody anything in return is bound to fail due to a massive lack of incentive to produce.

>They know exactly what they are doing

Yep, it's deliberate. They're the backalley version of a regular stock offering.

They're marketing themselves as "opening investments up to the people" but they're simply a way to get money from investors without any of the very reasonable legal securities and obligations that come with a company going public.