They don't need to do a traditional ICO to grift.

In order to join the network and start mining, you've got to buy $80 worth of gear from some company marked up to $600. That company then has to pay $40 to the Helium company in order for them to generate private keys that let your miner join the network and start making money.

Helium is just https://network.fon.com/ on a different frequency + a bunch of unneeded crypto bullshit that hides the grift.

Call me when I can stand up my helium miner based on open source hardware and software and make money using that.