Amazingly this is the first time I am hearing about Cindicator. I see they have raised their hard cap of $15 million. It is hard for me to say if they could have reached $500 million. For one, their ICO started September 12, before the China and JPMorgan FUD. The ICO landscape is different now.
This project, which made the sale in 4 stages, exclusively on white sheets. They did not seek simple money, they wanted to form a community. To get into the white sheet, you had to answer questions about the project, show profiles in social networks, etc. Many people refused.
they seemed like they were not greedy. They rejected plenty of whales because they just wanted to invest a shitload of money without adding any value to project. Out of more than 20K+ applications, they selected around 4k