Never the recent lows of the last few day's then at all, or all the rest of those day's at all either.
Don't forget there is still another 300 plus day's of sales still to come yet. Just one could net you thousands of EOS with just a single ETH if you are lucky.
But it all still rides on ETH to be worth anything as of yet.
vegolino's correct, it hasn't been that low recently, seems US $1.18 seems the lowest recently, according to http://eosscan.io/ - if you need a reason why the ICO was on ethereum, my best guess would be "that's where the money is". And if you want to raise capital, you "follow the money". Also, there's nothing to say they're holding all the proceeds in ETH either. For all we know, they've already withdrawn a big chunk of it to fiat as working capital.
If you want to make a case as to what the "right price is", well, that's a whole other issue, and quite separate from the technology itself. Put a low bid, and maybe you'll catch some at 10 cents in a flash crash, just like what happened a few weeks back on GDAX with ETH.
Pull up a historical price chart of STEEM, or another other crypto, or any stock for that matter. EOS will be no different in that regard, and there will more than likely be plenty of bumps along the way. Some will panic, others may see opportunity. Pick your spots as things unfold.
Other than that, I wouldn't posit to have any clue, except that from what I've seen so far, EOS does seem to be quite impressive, technologically speaking. And I even got a testnet up and running in a 3 euro / month VM, as described in my last post.