While the theoretical advantages of using the Ethereum platform for this crowdsale make sense - transparency of the approach and the wide spread adoption of Ethereum - I think it would be irresponsible to proceed with this crowdsale on a platform that is clearly not ready for the demand and usage.
I personally never invested in Ethereum - mostly because of Dan. Early on he was able to identify the shortcomings of proof of work. Proof of work could never allow for the low latency and throughput required for real world usage, which Ethereum demonstrates more clearly with each additionally ICO. Even more troubling is the lack of accountability and governance that would prohibit block producers from front running or blocking transactions, as has occured during the Status ICO.
As members of the BitShares and Steem community we are spoiled with very performant technology and concrete governance that allows both applications to work in practice as they were theoretically intended. Being that EOS will be built using Graphene, it makes the most sense to use the ICO to demonstrate why this technology is better than the competition.
The crowdsale should have always been done on Bitshares (I'm sure there is a lot of politics that prohibited this approach). Its curious to me that the EOS team would implement a reverse dutch auction on Ethereum when an exchange can be used for this exact purpose. A reverse dutch auction is really just a market in which there are multiple buyers and a single seller. To implement the same ICO on bitshares all that would be necessary is for the EOS team to stipulate a market in which they would sell EOS (preferably EOS/BitUSD) and each day participants would place their bids on the orderbook. At the end of the day the EOS team would sell all the way down the orderbook until they had completely sold all allotted EOS for the given window.
I'm sure that at this point the team will not pivot, but I would like to know what others' thoughts and preferences are on the matter... The ICO is fast approaching and I do not intend to participate if it is conducted on the Ethereum network.