1/ Before the Ethereum ICO, an altcoin even having a small premine was untenable, quickly labeled a scam on bitcointalk. Ethereum changed everything by offering extremely shitty terms.

Uncapped/unknown supply token sale for a network that didn't exist marketed as Bitcoin 2.0.

2/ Many of us called out Vitalik & co for it, as a result he coined the term Bitcoin Maximalism to deride those of us who did. Turns out ETH ended up being wildly successful price wise, rewarding those who didn't care about the terms or an actual functioning product existing.

3/ Then the DAO hack happened, and subsequent rollback. At this point, most ETH holders who believed in the value of decentralization and immutability sold. Price kept going up(substantially), rewarding those who didn't care about sound money or censorship resistance.

4/ The result was the ICO boom this year. Newly rich ETH investors who were willing to throw their $$ at any project with a whitepaper and some marketing since it worked out well for them with ETH. To them censorship resistance & sound money characteristics aren't important.

5/ If you bought ETH during the token sale, and still hold it, it means you didn't/don't care about (1) shitty ICO terms (2) the DAO hack & loss of immutability (3) the Parity multisig bug (4) a supply schedule that is still unknown. Says a lot about Ethereum stakeholders.