Really unfortunate that many abused the ICO crowdfunding model. This is not the first time I have heard about the escrow model, it was referred to as "ICO 2.0" back then. I've no idea if the project that implemented it was successful.
I have nothing against ICOs or IEOs but some self-funded or privately funded projects are also doing well in the market (check out veil if you want an example) So perhaps ICOs or IEOs are not really needed?