Thanks for the great question @walnut1! Another way to look at the ICO analogy is through the lens of an SMT (or Steem's Smart Media Tokens)... so let's replace the Record Shop with something like a Public Park.
A public park could ICO and create a Park Coin that could be used to fund programs and renovation projects within the park. Park visitors could potentially earn Park Coin for good deeds they provide like trash pickup, food drives or tree planting volunteer work, etc. Those who see value in the potential of this PC economy could invest in the token. As time goes on, you could imagine other parks in the same neighborhood adopting the coin and begin using it to kickstart programs or bolster existing networks.
An ICO could allow local neighborhood to invest in the resources of their "backyard" so to speak. Basically, creating neighborhood equity. Park Coin is far more accessible to people than something like an IPO with limited exchanges, thresholds of investors, and times for trading etc.
So that's just one example of how ICOs can empower multiple types of networks. Ultimately, it's a much more democratized method of owning and supporting a cause, cultural asset, or company.