Decentraland ICO lasted approximately 30 seconds, with only whales and speculators buying in.
The situation is very similar to what happened previously with BAT and a few other greed inspired ICOs. But in this case, it's worse than all of them, because Decentraland is a multiplayer world that truely needs early-adopters. Screwing over the community base because of greed and negligence is a great way to ruin everything.
The perfect ICO might be impossible, but projects such as 0x has shown that good enough solutions are definitely possible.
Paul Graham has famously said "Ideas are worthless". What's really valuable are intellectually honest entrepenurs that can step up and execute. I'd love to see one more or team step and execute the "land as a scarce resource on blockchain" idea the right way.