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You mean when the ICOs started?

Wasn't that just a cash grab? Everyone threw some buzz words in a white paper and made a pretty landing page hoping to take advantage of the hype.

I don't understand what you mean by "waste" or how that led to coordination. Most of those founders didn't even spend the money raised on anything, they just pocketed it.

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Many early projects which are scams are still pocketing the money today. They are regulated by government entities which appear to be preventing them from actually doing anything useful with the funds. Founders just pay themselves big salaries to do nothing since years. Not only that, if someone from the community makes a meaningful contribution in their own time, founders will take steps to shut it down and suppress such projects. That has been my personal experience and one I know others have had.

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