I think that users are value and given how little users other ICO project have, this seems to be not too much money imho.
I have made an infographic on ICOs. I'd be happy if you'd take a look if I am missing something...
https://steemit.com/ico/@bitcoinblase/how-icos-work-an-infographics
RE: 📰 Kik ICO Raises More Than $100 Million USD - Too Much?