I also do not like it, however I also feel it just the SEC being...well, the SEC. There ICO space is already crowded, there are a lot of scams and projects that do not justify creating a token. They just do it because it is an easy way to raise money without having to bother to comply with any regulation or paperwork.

SEC has regulated all forms of fundraising in the US, including crowdfunding. They do it to protect the public (so they say).

Obviously all ICOs are now trying to be careful, by stating that they do not accept US investors (obviously the blockchain knows no borders).

Still it would be interesting to see how things evolve in the ICO space.