Literally everything except “voting rights” is better served by a more popular existing cryptocurrency, and program language design doesn’t need a fancy voting system.
ICOs increase the emotional connection to a project by catering to the "in-group" tribal mentality no matter the original intent (i.e. greed). It can be debated how (or whether) this is fallacious, but the empirical evidence thus far indicates this model generally raising funds more quickly and in larger quantities than mere donations.